KUALA LUMPUR (March 19): PEOPLElogy Bhd, which provides consultancy services and training, has inked an underwriting agreement with Kenanga Investment Bank Bhd (KL:KENANGA) for its initial public offering (IPO) on the ACE Market.

Kenanga will underwrite about a third of the 105 million IPO shares, including 20.59 million shares for the Malaysian public and 12.35 million shares for eligible directors, employees, and contributors to the company's success, it said in a statement.

PEOPLElogy is expected to be listed in the second quarter of 2025.

The remainder 72.06 million IPO shares have been set aside for private placement to approved Bumiputera and selected investors.

Proceeds from the IPO will fund its expansion plans as well as software research and development, the company noted.

“We believe the success of this IPO will further enhance our business profile and future prospects, enabling us to facilitate our business expansion locally and regionally,” PEOPLElogy managing director Allen Lee said.

“With the increasing need for a digitally skilled workforce in Malaysia, our vision is to improve corporate talent-employability to meet organisational demands and remain relevant in a digital and knowledge-based economy,” he added.

Besides serving as the IPO’s underwriter, Kenanga is also the exercise’s principal adviser, sponsor and placement agent.

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