Solar PV and ELP company Pekat Group to raise RM44.38m from IPO

From left to right, first row are Pekat executive director Wee Chek Aik, managing director Chin Soo Mau and executive director Tai Yee Chee. Second row are M&A Securities Sdn Bhd managing director of corporate finance Datuk Bill Tan, Group CEO of Hextar Group of Companies; Datuk Eddie Ong and M&A Securities Sdn Bhd head of corporate finance Gary Ting. Third row is Pekat Group chairman Kok Kong Chin.

KUALA LUMPUR: Pekat Group Bhd, whose core business are solar photovoltaic (PV) and earthing and lightning protection (ELP), plans to raise RM44.38mil from its proposed listing on the ACE Market.

The company said on Wednesday it is issuing 138.70 million new shares or 21.5% of the enlarged share capital at an issue price of 32 sen per share.