PETALING JAYA: Oxford Innotech Bhd
is seeking to list on the ACE Market of Bursa Malaysia, the company has said in its draft prospectus.
The group is mainly involved in providing integrated solutions, specialising in precision engineering components solutions, mechanical assembly solutions and automation and robotics solutions.
The group’s initial public offering (IPO) will entail a public issue of 143.46 million new ordinary shares.
Of this, 35.5 million shares will be made available for the Malaysian public, 27 million issue shares will be for application by the eligible directors and employees of Oxford Innotech, as well as persons who have contributed to the success of the group.
The rest of the 80.95 million shares will be available by way of private placement to bumiputra investors as approved by the Investment, Trade and Industry Ministry.
The group said an offer for sale of up to 50 million existing shares will be available.
Out of this, 7.79 million shares will be for bumiputera investors while 42.2 million shares will be made available by way of private placement to selected investors.
In its draft prospectus, the group said it will plan to expand its product base to capture more revenue as well as expand production capacity and capabilities via the construction of a new factory and purchase of more machinery and equipment.
“We intend to construct an additional manufacturing facility, namely, Penang Science Park Factory 2 (Phase 2) on Plot 32a to resolve our production space constraints and to cater to the increased production demands of our customers, particularly from the modular building systems industry,” the company said.
“Our group’s headquarters will also be relocated from Batu Kawan Factory 1 and Batu Kawan Factory 2 to Penang Science Park Factory 2,” it added.
