Pestech to raise RM12.88mil from IPO

KUALA LUMPUR: Integrated power technology company Pestech International Bhd plans to raise RM12.88mil from its listing exercise which involves the sale of 12.88 million shares of 50 sen each at an offer price of RM1 each.

The company, which is seeking a listing on the Main Market of Bursa Malaysia on May 30, said that of the 12.88 million shares, it would offer six million shares to the public and 5.367 million shares for eligible directors, employees and persons who contributed to the group. The remaining 1.513 million shares would be placed out.