PLYTEC Holding Berhad a construction engineering company has received approval from Bursa Malaysia to list on the ACE
Market.
In conjunction with its listing, the company’s initial public offering exercise will comprise a public issue of 106,060,600 new shares, representing approximately 17.50% of its enlarged issued share capital upon listing. 30,303,100 million of this 106,060,600 new shares will be made available for application by the Malaysian public while the remaining 75,757,500 new shares will be made available via private placement to Bumiputera investors approved by the Ministry of Investment,
Trade and Industry (formerly known as the Ministry of International Trade and Industry).
The IPO also entails an offer for sale of 51,515,100 existing shares, equivalent to approximately 8.50% of the enlarged issued share capital of the Company. 21,212,100 shares will be made available for application by eligible directors, employees and persons who have contributed to the success of PLYTEC. In addition, the remaining 30,303,000 shares will be made available via private placement to selected investors.
PLYTEC’s Group Managing Director, Yang Kian Lock said, “We are delighted to announce that we have received the coveted approval for our listing on the prestigious ACE Market of Bursa Securities. This remarkable achievement represents a significant milestone for us, serving as a resounding validation of PLYTEC’s growth trajectory. While the journey towards listing continues, our unwavering dedication to excellence remains steadfast as we diligently pursue our ongoing projects, ensuring they are executed to the utmost standards of quality and innovation.”
KAF Investment Bank Berhad is the principal adviser, sponsor, underwriter and placement agent for this IPO exercise.
