This article first appeared in The Edge Financial Daily on October 9, 2018

KUALA LUMPUR: Securemetric Bhd, a digital security solutions provider, has signed an underwriting agreement with TA Securities Holdings Bhd in preparation for its listing on Bursa Malaysia’s ACE Market.

In a statement yesterday, Securemetric said, its initial public offering (IPO) will involve a public issue of 68 million new shares, of which 17 million shares 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 units offer digital security products and solutions in Malaysia, Vietnam, the Philippines, Indonesia and Singapore.

The group’s CEO, Edward Law, said the everchanging digital technology landscape and growing incidences of cyber-attacks globally have increased the need for more sophisticated and enhanced digital security system.

He said on top of that, the growing emphasis and initiatives to increase national digital security by governments across the the company’s key markets present a robust growth opportunity for us.