KUALA LUMPUR (Oct 8): Securemetric Bhd, a digital security solution provider, has executed an underwriting agreement with TA Securities Holdings Bhd in preparation for its listing on Bursa Malaysia's ACE Market.

In a statement today, Securemetric said its initial public offering (IPO) will involve a public issue of 68 million new shares, 17 million of which will be made available for application by the Malaysian public.

Of the balance, 48 million shares will be offered to identified investors via private placement, and three million shares to eligible employees of the group.

TA Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.

Securemetric and its subsidiaries offer digital security products and solutions in Malaysia, Vietnam, the Philippines, Indonesia and Singapore.

The group's CEO Edward Law said the ever-changing digital technology landscape and growing incidences of cyber-attacks globally has increased the need for more sophisticated and enhanced digital security system.

"On top of that, the growing emphasis and initiatives to increase national digital security by governments across our key markets present a robust growth opportunity for us," he said.

"Product and solutions innovation coupled with continued focus on clients' requirements are the driving forces behind our transformation from a security devices distributor to a regional digital security solutions player," he added.