Industrial lifting and handling equipment specialist Liftech Group Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its planned listing on the ACE Market of Bursa Malaysia Securities Bhd.
The company’s IPO exercise entails a public issue of 79.2 million new shares and an offer for sale of 15.8 million existing shares, representing 25.2% and 5% respectively of Liftech’s enlarged share capital of 314.9 million shares upon listing.
Of the 79.2 million new shares, 15.8 million shares will be allocated to the Malaysian public via balloting, while 7.2 million shares are set aside for eligible personnel under the Pink Form allocation. Another 39.4 million shares will be privately placed to Bumiputera investors approved by the Investment, Trade and Industry Ministry, with the remaining 16.8 million shares allocated to selected investors through private placement.
Meanwhile, all 15.8 million shares under the offer for sale will be placed out to selected investors via private placement.
Under the agreement, M&A Securities will underwrite 23 million shares earmarked for the Malaysian public and eligible individuals.
Managing Director Bernard Ng said the IPO proceeds will support business expansion, acquisition of machinery and equipment, enhancement of production capacity and working capital requirements to support the company’s growth plans.
For FY24, the company posted a net profit of RM6.6 million on revenue of RM57.7 million, with gross and net profit margins of 40.3% and 11.4%, respectively.
The company is slated for listing on the ACE Market in June 2026, with M&A Securities as the advisor, sponsor, underwriter and placement agent for the IPO exercise.
