KUALA LUMPUR: SCH Group Bhd's initial public offering (IPO) in conjunction with its listing on Bursa Malaysia's Ace Market will involve a public issue of 90.69 million ordinary shares of 10 sen each, at an issue/offer price of 23 sen per share.

In the Bursa Malaysia announcement today, a total of 13 million shares will be available to the Malaysian public and 13 million for eligible directors, employees and business associates/persons.

Another 19.66 million shares will be privately placed to selected investors, while 45.03 million shares are for private placement to identified Bumiputera investors approved by the Ministry of International Trade and industry (MITI).

An offer for sale of 32.98 million shares will be by way of private placement to selected investors.