PETALING JAYA: Powertechnic Group Bhd expects to raise RM22.05mil in gross proceeds via an issuance of 63 million new shares at 35 sen a piece, en route to its listing on the ACE Market of Bursa Malaysia on Oct 28, 2025.
The firm, which specialises in the provision of crane and hoist systems, elevated platform systems and elevators, said at its prospectus launch it is embarking on the initial public offering (IPO) as it seeks to accelerate automation investments and market expansion in the lifting and handling equipment industry.
Of the proceeds, RM4.5mil will be used to set up new product showrooms and sales offices with storage space and marketing expenses, while RM3.8mil will be utilised for capital expenditure, mainly for automated machines.
Of the remaining funds, RM2.8mil will be used to repay banks, RM6.65mil for general working capital and RM4.3mil for estimated listing expenses.
Powertechnic will have a market capitalisation of RM108.62mil upon listing, based on the issue price of 35 sen a share and enlarged share capital of 310.34 million shares.