Powertechnic Group signs underwriting deal with TA Securities

From left: Powertechnic Group Bhd executive director Choo Chee Yong, Powertechnic managing director Ivan Na Keh Chai, TA Securities Holdings Bhd executive director - operation Tah Heong Beng and TA Securities head of corporate finance Ku Mun Fong.

KUALA LUMPUR: Powertechnic Group Bhd has inked an underwriting agreement with TA Securities Holdings Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Powertechnic Group, which provides crane and hoist systems, elevated platform systems and elevators, said in a statement that the IPO exercise entails a public issue of 63 million new ordinary shares.