Mechanical and electrical services provider, Critical Holdings Berhad unveiled its initial public offering prospectus in conjunction with its proposed listing on the ACE Market of Bursa Malaysia Securities Berhad set for 18 December 2023.
The company targets to raise an estimated RM26.02 million via the issuance of 74,348,000 new shares at an IPO price of RM0.35 per share. Based on the Group’s enlarged share capital of 371.74 million shares and IPO price, the market capitalisation will be approximately RM130.10 million.
The proceeds raised from the IPO will be used for the next phase of its business expansion, namely 23.06% for the acquisition of the new regional office in the central region or Klang Valley to be specific, and 17.29% for the expansion of its workforce. Another 6.15% will be for capital expenditure along with 38.13% being channelled towards working capital. The remaining proceeds will be for listing-related expenses.
The Group also has a dividend policy and targets to declare a yearly dividend of up to 25% of its profit after tax to reward its shareholders.
The public issue portion of the IPO will be made available starting today and will close on 5 December 2023 at 5:00 pm.
MIDF Investment, besides being the underwriter of Critical Holdings’ IPO, is also the Principal Adviser, Sponsor and Placement Agent to Critical Holdings for this listing exercise.
