PETALING JAYA: Powertechnic Group Bhd is looking to list on the ACE Market of Bursa Malaysia.
In its draft prospectus, the group said it is involved in the provision of lifting systems and maintenance, repair and related services.
Its initial public offering (IPO) will entail a public issue of 63 million new shares.
Of this, 15.6 million shares will be made available to the public, while 10 million shares will be for eligible directors, employees and persons who have contributed to the success of the group.
The remaining 19.6 million and 17.8 million new shares will be available by way of private placement to selected investors and selected bumiputra investors approved by the Investment, Trade and Industry Ministry.
TA Securities Holdings Bhd will be the principal adviser, sponsor, underwriter, and placement agent for the group.
