UUE Holdings targets RM30mil from upcoming IPO

From left: UUE Holdings independent non-executive director Latha Pillay, executive director and chief financial officer Vincent Wong, executive director Hin Wai Mun, executive director Chong Tuoo Choi, independent non-executive chairman Lee Chye Tee, managing director Datuk Kenny Ting, M&A Equity Holdings Bhd Datuk Bill Tan, M&A Securities Sdn Bhd head of corporate finance Gary Ting and deputy head of corporate finance Rachel Ho

PETALING JAYA: Underground utilities engineering solutions provider UUE Holdings Bhd has scheduled a listing on the ACE Market of Bursa Malaysia on July 2, 2024 as part of its initial public offering (IPO) with the target to raise RM29.98 million.

Managing director Datuk Kenny Ting said: "From our IPO, we intend to spend over 50 per cent of the gross proceeds raised on the purchase of new machinery and equipment, ranging from horizontal directional drilling (HDD) machines to lorries and excavators.