Mechanical and electrical engineering solutions provider SCA Solutions Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its proposed IPO on Bursa Malaysia’s ACE Market.
The IPO will involve 170.9 million shares, representing 30% of SCA Solutions’ enlarged issued share capital of 569.6 million shares upon listing.
Of the total offering, 114 million will comprise new shares under the public issue, while another 56.9 million existing shares will be offered for sale.
Under the public issue, 28.5 million new shares will be allocated to the Malaysian public through balloting, while 5.7 million shares will be reserved for eligible individuals.
Another 71.2 million new shares will be placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while 8.6 million shares will be allocated to selected investors.
Separately, the 56.9 million existing shares under the offer for sale will be placed with selected investors.
The majority of proceeds from the public issue will be used to fund SCA Solutions’ expansion, primarily the establishment of a new integrated facility in Kapar, Selangor, alongside strengthening inventory and expanding its sales and marketing reach.
SCA Solutions specialises in heating, ventilation and air conditioning (HVAC) and fire safety instrumentation, as well as water treatment solutions for HVAC applications.
The company is targeting its ACE Market listing in the fourth quarter of 2026, barring unforeseen circumstances.
Malacca Securities is the principal advisor, sponsor, underwriter and placement agent for the proposed listing.
