Powertechnic Group Berhad (“Powertechnic” or the “Company“) and its subsidiaries (the “Group”), a specialist in the provision of crane and hoist systems, elevated platform systems, and elevators, is pleased to announce that the public portion of its initial public offering (“IPO”) has been oversubscribed by 46.35 times.
Powertechnic’s IPO comprises a public issue of 63.00 million new ordinary shares in Powertechnic (“Public Issue Shares”) and an offer for sale of 21.00 million existing ordinary shares in Powertechnic (“Offer Shares”), structured as follows:
Public Issue
- Malaysian Public:
- 15.60 million Public Issue Shares or 5.02% of the enlarged issued share capital made available for application by the Malaysian public.
- Eligible Parties:
- 10.00 million Public Issue Shares or 3.22% of the enlarged issued share capital made available for application by eligible directors, employees, and other persons who have contributed to the success of the Group.
- Private Placement to Selected Investors:
- 19.60 million Public Issue Shares or 6.32% of the enlarged issued share capital made available by way of private placement to selected investors.
- Private Placement to Bumiputera Investors:
- 17.80 million Public Issue Shares or 5.74% of the enlarged issued share capital made available by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”).
Offer for sale
- Offer for sale of 21.00 million Offer Shares or 6.77% of the enlarged issued share capital by way of private placement to selected Bumiputera investors approved by MITI.
The Group received a total of 10,392 applications for 738,635,300 Public Issue Shares from the Malaysian public, representing an overall oversubscription rate of 46.35 times.
Under the Bumiputera public portion, 5,310 applications were received for 355,982,900 Public Issue Shares, representing an oversubscription rate of 44.64 times. Meanwhile, under the other Malaysian public portion, 5,082 applications were received for 382,652,400 Public Issue Shares, resulting in an oversubscription rate of 48.06 times.
Mr. Ivan Na Keh Chai, Managing Director of Powertechnic Group Berhad, commented,
“We are deeply grateful for the response from investors, which reflects confidence in Powertechnic’s capabilities and growth prospects. This overwhelming support underscores the market’s recognition of our commitment to delivering efficient and customised lifting solutions.
The IPO proceeds will enable us to invest in automation, expand our market coverage, and strengthen our position as a specialist in lifting systems in Malaysia and new target areas.”
Mr. Choo Chee Yong, Executive Director of Powertechnic Group Berhad said,
“The overwhelming interest in our IPO is an endorsement of Powertechnic’s business fundamentals and long-term vision. As we take this significant step forward as a publicly listed company, we are focused on scaling our capabilities, enhancing our engineering expertise, and unlocking new growth opportunities.
This milestone reflects our resilience and strategic focus, and we remain committed to delivering sustainable value to our stakeholders.”
Powertechnic Group Berhad is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 28 October 2025.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
For more information, visit https://powertechnicgroup.com.my/
