SKA Capital aims to raise over RM100 mil from ACE Market IPO
Electrical engineering firm SKA Capital Bhd has announced an IPO on Malaysia's ACE Market, aiming to raise over RM100 million. The company plans to use the funds for working capital, performance bonds, and equipment to support its growing infrastructure projects.
Why it matters
The IPO signals investor interest in Malaysia's power infrastructure sector and provides the company with capital to scale its operations.
BURSA SGX Home IPO Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Oct 20): Electrical engineering firm SKA Capital Bhd has priced its shares at 43 sen per share for its ACE Market listing.
The initial public offering (IPO) will raise RM103.4 million, of which RM72.3 million will go to the company, according to its prospectus unveiled on Tuesday. Managing director Datuk Subas Kumar Ambairam will pocket RM31.13 million from an offer for sale of his existing stake under the IPO.
Applications for the IPO will close at 5pm on Oct 27 and listing is scheduled for Nov 11.
SKA Capital mainly provides substation engineering services, underground utilities engineering services and trading of electrical devices, electrical equipment and construction materials for power infrastructure engineering.
Jobs on hand totalled about RM313 million.
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