Power infrastructure engineering solutions provider SKA Capital Bhd has signed an underwriting agreement with TA Securities Holdings Bhd for its proposed listing on the ACE Market of Bursa Malaysia Securities Bhd.
SKA Capital’s planned IPO will involve a public issue of 168.08 million new shares and an offer for sale of 72.4 million existing shares.
Of the new shares, 44.78 million shares will be made available for application by the Malaysian public, while 8.96 million shares will be allocated to eligible individual.
Another 111.94 million shares will be placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while 2.41 million shares will be offered to selected investors through private placement.
Separately, the offer for sale will comprise 72.4 million existing shares to be placed with selected investors.
Under the underwriting agreement, TA Securities will underwrite 53.73 million issue shares allocated to the Malaysian public and eligible persons.
SKA Capital Managing Director Dato’ Subas Kumar Ambairam said the IPO would provide the group with greater capacity to undertake larger projects, deepen its engineering solutions and expand its underground utilities business.
He said the group sees continued opportunities from rising electricity demand, grid expansion and modernisation, renewable energy integration and the rapid growth of data centres and other power-intensive industries.
SKA Capital, through subsidiaries SKA Rekabina and Reltency Engineering, provides substation engineering, underground utilities engineering and related electrical infrastructure solutions, backed by an operating track record of about 17 years.
TA Securities is the principal advisor, sponsor, underwriter and placement agent for SKA Capital’s proposed IPO.
