NPG plans debut on Singapore bourse next March

Norman Pang Group (NPG), which is based here, yesterday announced its plan to go public on the Singapore Exchange (SGX) by next March.

The insurance agency signed a pre-initial public offering (IPO) with Singapore-based Evolve Capital Advisory and MCI Capital for its upcoming listing.

MCI Capital is launching the Asia IPO Fund to fully support and back NPG’s pre-IPO on the SGX, with a fund size of up to RM250 million.

Founder and chairman Datuk Seri Norman Pang said the fund also provides capital and resources to other small and medium enterprises (SMEs) looking for access to public markets.

“With the support of the Asia IPO Fund, NPG shall drive and participate in private placement for those SME companies being supported by this fund in the SGX,” he said at the signing ceremony here yesterday.

Pang said one of the key focus areas of the fund is the media and entertainment industry.

It is planning to invest up to RM25 million to support initiatives in this space, including film production and distribution.

“In line with this, I am pleased to announce our official collaboration with the National Film Development Corporation which represents a significant step forward in our efforts to support and promote the Malaysian film scene,” he said.

Bolstered by a record-breaking first-year premium collection of RM63.4 million last year and a workforce comprising over 380 registered and contracted agents, NPG has solidified its position as an industry leader since the agency began in 2006 with only six agents.

Pang said it is targeting a yearon-year growth of 10 per cent.

NPG is also setting its sights on reaching a first-year premium collection of RM80 million.

Evolve Capital is the sponsor and issue manager for NPG’s listing.