Powerwell to raise RM21.8m from ACE listing

From left: Powerwell independent non-executive director Dr Tou Teck Yong, executive director Ricky Lee, independent chairman Tang Yuen Kin, managing director Jason Tham, director/head of corporate finance of Mercury Securities Sdn Bhd Denis Lim, regional senior partner (Asean) & managing partner of BDO Capital Consultants Sdn Bhd Datuk Gan Ah Tee, executive director, advisory of BDO Capital Consultants Sdn Bhd, executive director Catherine Wong and independent non-executive director Selma Enolil Mustapha Khalil.

KUALA LUMPUR: Powerwell Holdings Bhd plans to raise RM21.8mil from its proposed listing on the ACE Market by issuing 87.4 million new shares at 25 sen.

The company's core businesses are designing and manufacturing and trading of electricity distribution products including low voltage switchboards, medium voltage switchgear and related products.