KUALA LUMPUR: Pan Merchant Bhd
has secured Bursa Malaysia's approval for a proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the country's largest solid-liquid filtration solutions provider by revenue said it aims to be listed in the second quarter of 2025.
The group specialises in design, manufacture, assembly, delivery and commissioning of filter presses and hermetic filters carrying the PMI tradename, as well as design and fabrication of steel-based vessels or equipment.
It also provides technical support services including replacement parts and maintenance services for its installed base of filters globally.
According to the company, the global solid-liquid filtration market has grown from RM12bil in 2019 to RM21.9bil in 2023.
The company exports over 80% its products to Asia, Europe, America and Africa.
It operates offices in Malaysia, Singapore, the Netherlands, and the United States, as well as three manufacturing facilities in Ipoh that sit on about 10 acres and are equipped with a wide suite of production capabilities.
Pan Merchant managing director Wong Voon Ten said the company has grown over three decades into a global player in the solid-liquid filtration solutions industry.
"With enhanced resources post-listing, we are poised for greater innovation through product development activities and broader global reach through our strategic expansion plan, thus delivering stronger value creation for our stakeholders," he added.
Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent, and sole underwriter for the Group’s IPO.
