ACE Market-bound Master Tec aims to raise RM61.66mil from IPO

PETALING JAYA: Master TEC Group Bhd, en route for a listing on the ACE Market of Bursa Malaysia on Jan 29, 2024, expects to raise RM61.66 million from its initial public offering (IPO).

In a statement today, Master Tec said the IPO entailed the public offering of 285.6 million ordinary shares, comprising a public issue of 158.1 million new shares and an offer for sale of 127.5 million existing shares, representing 28.0 per cent of the group’s enlarged issued share capital of 1.02 billion ordinary shares.