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, 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.
It 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 offered a wide range of industrial lifting and handling equipment comprising industrial lifting cranes, industrial lifts, dock levellers and aerial work platforms. “We intend to enhance the efficiency of our manufacturing activities,” the firm said.
