HE Group to raise RM24.33mil from IPO

From left: HE Group specified shareholder and substantial shareholder Dennis Yong Chong Cheang, executive director Eng Choon Leong, managing director Amos Haw Chee Seng, independent non-executive chairman Datuk Christopher Wan Soo Kee, Alliance Islamic Bank Bhd CEO Rizal IL-Ehzan Fadil Azim and senior vice-president-cum-head of corporate finance Tee Kok Wah

KUALA LUMPUR: HE Group Bhd aims to raise RM24.33mil in proceeds from its upcoming initial public offering (IPO) for business expansion purposes.

The electrical engineering service provider, slated for a listing on the ACE Market of Bursa Malaysia on Jan 30, 2024, said RM15.13mil or 62.19% of the gross proceeds will be used to supplement the working capital requirements in tandem with the expected growth in the group’s business.