PETALING JAYA: PMW International Bhd
is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the trading of construction materials, spun poles, piles and other concrete products; manufacturing of spun poles and piles; moulds, machinery, and metal products; and rental of moulds and machinery.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail the public issue of 178.41 million new ordinary shares.
Of this, 44.6 million new shares will be made available for application by the Malaysian public; while 22.30 million shares will be made available for application by the eligible directors, employees and persons who have contributed to the success of the group.
Additionally, there will be 111.51 million new shares by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry; and offer for sale of 89.21 million existing shares by way of private placement to selected investors.
PMW said the proceeds from the IPO will be used for the construction of a new facility at Tanjung Manis, Sarawak, as well as the purchase of new machinery and equipment.
Additional proceeds will be utilised for working capital requirements and listing expenses.
KAF Investment Bank Bhd is the sponsor of the IPO.
