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, proudly made its debut today on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The shares opened at RM0.40 per share, representing a 14.29% premium over its IPO price of RM0.35, signalling investor confidence in the Group’s established track record and strategic growth plans.
Powertechnic was listed under the stock name “POWER” with the stock code “0377”.
With an established track record spanning approximately 23 years, Powertechnic has grown into a specialist in lifting systems, offering end-to-end solutions including engineering design, fabrication, assembly, installation, commissioning as well as maintenance, repair and related services.
The Group’s comprehensive portfolio, marketed under its own “Powertechnic” brand, serves industrial, commercial, and residential markets across Malaysia and Singapore. Its in-house engineering capabilities and commitment to tailored solutions have cemented Powertechnic’s reputation for quality and customer-focused innovation.
Powertechnic’s IPO raised approximately RM22.05 million through the issuance of 63.00 million new shares. The proceeds are allocated as follows:
- RM4.50million to set up new product showrooms and sales offices with storage space and marketing expenses;
- RM3.80million for capital expenditure mainly for automated machines;
- RM2.80million for repayment of bank borrowings;
- RM6.65million for general working capital; and
- RM4.30million for estimated listing expenses.
Mr. Teh Kee Sin, Independent Non-Executive Chairman of Powertechnic Group Berhad remarked,
“Today marks a defining milestone for Powertechnic. The positive response from the market is an endorsement of our strategy to enhance automation and expand our footprint in targeted regions like Penang and Sarawak. With the funds raised from this IPO, we are well-positioned to accelerate our growth plans and deliver greater value to our stakeholders.”
Mr. Ku Mun Fong, Head of Corporate Finance of TA Securities Holdings Berhad commented,
“Powertechnic’s successful listing reflects market confidence in the Group’s fundamentals, business model, and growth trajectory. With its track record, experienced management team, and a commitment to continuous success, Powertechnic is well-positioned to capture opportunities in Malaysia’s construction and manufacturing industries. We are proud to have supported the Group throughout this journey and look forward to its continued success.”
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
For more information, visit https://powertechnicgroup.com.my/
