KUALA LUMPUR, 14^th February 2024 – Prolintas Managers Sdn Bhd (Trustee-Manager), the  Trustee-Manager of Prolintas Infra Business Trust (Prolintas Infra BT or the “Trust”), which is Malaysia’s first highway business trust to be listed, and the promoter of Prolintas Infra BT, Projek Lintasan Kota Holdings Sdn Bhd (PROLINTAS), today signed an underwriting agreement with AmInvestment Bank Berhad, CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad (Joint Underwriters) in conjunction with Prolintas Infra BT’s Initial Public Offering (IPO) exercise on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).

The IPO exercise encompasses the listing exercise via a business trust structure comprising four highways that have been acquired from PROLINTAS by the Trustee-Manager (on behalf of Prolintas Infra BT), namely, the Ampang-Kuala Lumpur Elevated Highway (AKLEH), Guthrie Corridor Expressway (GCE), Lebuhraya Kemuning-Shah Alam (LKSA), and Sistem Lingkaran Lebuhraya Kajang (SILK) (collectively, the Highways).

Prolintas Infra BT’s IPO involves the offer for sale by PROLINTAS of 539,000,000 ⁽¹⁾ existing units in Prolintas Infra BT (IPO Units), representing 49% ⁽¹⁾ of the total units in issue. The Joint Underwriters have agreed to underwrite the retail offering of 45,751,000 of IPO units in Prolintas Infra BT, representing 4.16% of the total units in issue.

Of the retail offering IPO units, 18,251,000 units will be allocated to the directors and key senior management of the Trustee-Manager, eligible employees of the Trustee-Manager and the companies held under the Prolintas Infra BT (Trust Group) and persons who have contributed to the success of the Trust Group while 27,500,000 units are reserved for application by the Malaysian public via balloting.

Prolintas Infra BT is expected to be listed in the first quarter of 2024.

Group Chief Executive Officer of PROLINTAS, Dato’ Mohammad Azlan Abdullah said, “The signing of the underwriting agreement symbolises a significant milestone for PROLINTAS. This momentous listing exercise provides us an avenue to unlock the value of our assets and at the same time, this business trust listing structure enables us to provide our unitholders sustainable returns in the long run as our assets have the requisite earnings visibility given their concession-based nature”.

“I would like to extend my deepest appreciation to AmInvestment Bank Berhad, CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad for their support given their integral role in this listing exercise” he added.

Meanwhile, Ms Tracy Chen Wee Keng, AmInvestment Bank Berhad’s Chief Executive Officer, said, “As the Principal Adviser for this landmark IPO, AmInvestment Bank Berhad is honoured to play a pivotal role in bringing Prolintas Infra BT, the first business trust to be listed on Bursa Malaysia, to the Malaysian market. We are thrilled to witness this momentous milestone for both PROLINTAS and Malaysia’s capital markets.

With a seasoned team of directors and management leading the Trustee-Manager, we believe Prolintas Infra BT will continuously deliver strong returns to its unitholders, leveraging on the strategic locations of the Highways which provide the assurance of high traffic volume, translating into a stable income stream for the Trust.”

AmInvestment Bank Berhad is the IPO’s Principal Adviser, Lead Bookrunner, Joint Bookrunner, Managing Underwriter and a Joint Underwriter. CIMB Investment Bank Berhad and Maybank Investment Bank Berhad are Joint Bookrunners and Joint Underwriters, whilst RHB Investment Bank Berhad is a Joint Underwriter for the IPO.