PETALING JAYA: EI Power Bhd (EIP) has today entered into an underwriting agreement with M & A Securities Sdn Bhd in conjunction with its upcoming initial public offering on the ACE Market of Bursa Malaysia.

In a statement, the power engineering solutions provider said the IPO exercise involves a public issue of 129.5 million new ordinary shares, representing 18.5% of its enlarged share capital, as well as an offer for sale of 70 million existing shares, accounting for 10% of its enlarged share capital.