Pioneer Heat Holdings Bhd has launched its prospectus in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd, as the group seeks to strengthen its operating capacity and expand its presence across Malaysia.
The IPO comprises a public issue of 86.70 million new ordinary shares and an offer for sale of 17.35 million existing shares.
At an issue price of RM0.25 per share, the public issue is expected to raise gross proceeds of approximately RM21.68 million for Pioneer Heat.
The company said the IPO proceeds will be channelled towards strengthening its infrastructure, expanding its regional operations and supporting working capital requirements.
Of the proceeds, RM4 million will be used to establish a new headquarters in Sendayan, Negeri Sembilan, while RM2.07 million will go towards setting up a new office in Sarawak.
Another RM4.01 million will be allocated for the purchase of machinery and equipment, while RM7.90 million will be used for working capital. The remaining RM3.70 million has been earmarked for estimated listing expenses.
The group intends to use its IPO-funded expansion to enhance its ability to undertake larger and more complex projects.
The proposed New Sendayan headquarters will comprise administrative offices, a warehouse and workshop serving customers in the Central region.
Planned capabilities at the facility include pipe spool and pipe structure fabrication, hydrotesting, heat treatment and valve servicing.
Pioneer Heat chief executive officer and executive director Wong Wei Ken said the IPO would allow Pioneer Heat to strengthen its operational capacity, expand its regional footprint and enhance its service capabilities.
The IPO application period opens today, Aug 12, 2026, and closes on Sept 3, 2026.
Pioneer Heat is scheduled to make its debut on the ACE Market of Bursa Malaysia on Sept 17, 2026.
Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.
