KUALA LUMPUR: West River Bhd
, a provider of mechanical and electrical (M&E) engineering services, has launched its prospectus in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia scheduled on May 5, 2025.
Group managing director Lim Yong Lai said West River’s listing exercise will involve a public issue of 71.54 million new shares (issue shares) representing 20% of its enlarged share capital of 357.70 million shares, alongside an offer for sale of 35.77 million existing shares (offer share), representing 10% of the enlarged share capital.
“Three years after the IPO and listing, we plan to build our factory and strengthen our management. Then maybe we will go overseas (expand the business),” he told a press conference in conjunction with the launch of the company’s prospectus yesterday.
Priced at 39 sen per share, the IPO values West River at a market capitalisation of RM139.50mil. — Bernama
