PETALING JAYA: Industrial automation and power systems provider Swift Energy Technology Bhd, en route to a listing on the ACE Market, aims to raise RM70.06mil through an initial public offering (IPO) with an issue price of 28 sen per share.
The company plans to utilise approximately 40% or RM28mil of the IPO proceeds to expand its fabrication facility, storage, and office space while also establishing a new research and development (R&D) centre in Shah Alam.
