KUALA LUMPUR: Zantat Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia.

In a statement, the calcium carbonate producer said its initial public offering (IPO) involves a public issues of 56 million new shares, or 20% of the enlarges share capital, as well as an offer for sale of 16.8 million existing shares via private placement to selected investors.

Of the 56 million issue shares, M&A Securities will underwrite the 14 million shares to be made available to the Malaysian public as well as the 11.2 million shares pink form allocation for eligible directors, employees and persons who have contributed to the success of Zantat.