PETALING JAYA: PMW International Bhd
is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in 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 yesterday, 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 Malaysia 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.
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. It said the benefits from this includes increasing the company’s ability to serve customers in Sarawak and strengthen its competitive position there.
