Aviation maintenance, repair and overhaul (MRO) specialist GTA Holdings Bhd plans to raise RM71.75 million from its IPO as it heads for a listing on Bursa Malaysia’s ACE Market.
The IPO will involve 329 million shares, comprising 205 million new shares and 124 million existing shares. The new shares will be issued at 35 sen each, with the RM71.75 million in gross proceeds accruing entirely to GTA.
Of the proceeds, RM25 million will be used to partially repay financing for a new operating facility, which has an estimated total cost of RM38.93 million.
Another RM10 million has been earmarked for the planned expansion of GTA’s helicopter MRO activities into the Middle East through potential joint ventures, while RM5.9 million will support its expansion into MRO services for fixed-wing aircraft landing gear, wheels and brakes.
The group will allocate RM24.15 million for working capital and RM6.7 million for listing expenses.
Managing Director and Chief Executive Officer Datuk Nonee Ashirin Datuk Mohd Radzi said the proceeds would support GTA’s next phase of growth by expanding its facilities, geographical reach and range of aviation MRO services.
GTA specialises in MRO-related services for helicopter and fixed-wing aircraft engines, parts and components, alongside aviation equipment sales and maintenance support packages.
Hong Leong Investment Bank Bhd is the principal advisor, sponsor, sole underwriter and sole placement agent for the IPO.
