WTEC inks underwriting deal with Alliance Islamic Bank for IPO

From left: Andy Tiow See Yen, group executive director of WTEC Group; Tan Kok Kheng, group managing director; Rizal IL-Ehzan Fadil Azim, CEO of Alliance Islamic Bank; Teoh Chu Lin, group chief corporate and institutional banking officer of Alliance Bank Malaysia; and Tee Kok Wah, head/senior vice-president, corporate finance, Islamic capital markets of Alliance Islamic Bank

KUALA LUMPUR: WTEC Group Bhd has entered into an underwriting agreement with Alliance Islamic Bank Bhd for its upcoming intial public offering (IPO) on the ACE Market of Bursa Malaysia.

WTEC Group, through its subsidiaries (collectively known as the “Group”), manufactures and trades foam and non-foam products, serving a diverse range of industries including automotive, electrical and electronics, construction, medical and personal protective equipment, and others.