KUALA LUMPUR: Powertechnic Group Bhd
’s public portion of its initial public offering (IPO) was oversubscribed by 46.35 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd on Oct 28, 2025.
In a statement, the specialist in crane and hoist systems, elevated platform systems and elevators said its IPO consists of a public issue of 63 million new shares and an offer for sale of 21 million existing shares, bringing the total to 84 million shares offered under the listing exercise.
Powertechnic said it received 10,392 applications for 738.64 million public issue shares from the Malaysian public, representing an overall oversubscription rate of 46.35 times.
Under the Bumiputera public portion, 5,310 applications were received for 355.98 million shares, translating to an oversubscription rate of 44.64 times, while the remaining 5,082 applications for 382.65 million shares under the other Malaysian public portion resulted in an oversubscription rate of 48.06 times.
“We are deeply grateful for the response from investors, which reflects confidence in Powertechnic’s capabilities and growth prospects. This overwhelming support underscores the market’s recognition of our commitment to delivering efficient and customised lifting solutions.
“The IPO proceeds will enable us to invest in automation, expand our market coverage, and strengthen our position as a specialist in lifting systems in Malaysia and new target areas,” managing director Ivan Na Keh Chai said.
TA Securities Holdings Bhd is the principal adviser, sponsor, underwriter, and placement agent for this IPO.
