NWE Resources Inks Underwriting Agreement with KAF Investment Bank Ahead of ACE Market IPO

Shah Alam, 24 August 2026 – Hospitality amenities, personal care products, and health foods manufacturer NWE Resources Group Berhad has entered into an underwriting agreement with KAF Investment Bank Berhad in conjunction with its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.

The listing exercise involves a public issuance of 143,145,540 new ordinary shares, representing 26.5 percent of the group’s enlarged issued share capital of 540,000,000 shares upon listing. Under the agreement, KAF Investment Bank will underwrite a total of 37,800,000 issue shares, comprising 27,000,000 shares allocated to the Malaysian public via balloting and 10,800,000 shares reserved for eligible directors, employees, and contributors under the Pink Form allocation. The remaining 105,345,540 issue shares will be placed out to selected institutional and private investors via private placement.