KUALA LUMPUR: Cybersecurity services provider LGMS Bhd has inked an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd in preparation for its listing on Bursa Malaysia’s ACE Market.

       LGMS and its subsidiaries and associate company are primarily involved in cybersecurity assessment and penetration testing, cyber risk management and compliance, and the provision of digital forensics and incident response services.

       Executive chairman Fong Choong Fook said the signing of the underwriting agreement marked a key milestone in its initial public offering (IPO) journey.

       “We have timed the IPO to fit our expansion plans and are now finalising our prospectus for the launch to take place in the coming weeks.

       “Southeast Asia is experiencing rapid growth in the digital technology sector, and the increasing reliance on the internet also brings about security threats that can cause immense damages.

       “Backed by the proceeds from the IPO, we will be scaling up our operations both within Malaysia and regionally being Singapore, Vietnam and Cambodia,” he said in a statement.

       UOB Kay Hian is the principal adviser, sponsor, sole underwriter and placement agent for LGMS’ IPO.