PETALING JAYA: Liftech Group Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of customised industrial lifting and handling equipment.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail the public issue of 79.23 million new ordinary shares.
M & A Securities Sdn Bhd is the sponsor of the company’s IPO.
The company said proceeds from the IPO will be used for business expansion/ establishment of facilities, purchase of machinery and equipment, working capital, repayment of bank borrowings and listing expenses.
Liftech said it offers a wide range of industrial lifting and handling equipment comprising industrial lifting cranes, industrial lifts, dock levellers and aerial work platforms.
“We intend to expand our maintenance and repair business in the regions of Penang and Sabah through the purchase of new facilities in Bukit Minyak, Penang and Kota Kinabalu, Sabah
“We intend to enhance the efficiency of our manufacturing activities through the purchase of new machinery and equipment,” said the company.
