PETALING JAYA: One Gasmaster Holdings Bhd (OGM) is seeking a listing on the ACE Market of Bursa Malaysia.
OGM is principally involved in environmental monitoring, gas detection and gas piping and industrial hygiene services, maintenance and calibration services, as well as trading of instruments, parts and components.
In its prospectus exposure, released on Wednesday, the company said its initial public offering (IPO) will entail the public issue of 77.5 million new ordinary shares.
Of this, 15.5 million new shares made available for the Malaysia public; 3.1 million shares will be for eligible directors, employees and persons who have contributed to the success of the group; and 58.9 million shares will be made available by way of private placement to selected investors.
OGM said the bulk of the proceeds from the IPO will be utilised for business expansion, capital expenditure for setting up a new calibration laboratory, branch offices and calibration laboratories in Johor, Terengganu and Penang.
