KUALA LUMPUR (May 3): In conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Securities, building and infrastructure construction services provider Nestcon Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd. The company’s IPO exercise entails a public issue of 161 million new shares and an offer for sale of 32.2 million existing shares by way of private placement, according to its statement today. Under the agreement, M&A Securities will underwrite 64.4 million of the 161 million new shares, comprising portions to be made available for the Malaysian public as well as eligible directors, employees and persons who have contributed to the success of the group.