KUALA LUMPUR: Geohan Corp Bhd has signed an underwriting agreement with Alliance Islamic Bank Bhd, in conjunction with its upcoming initial public offering (IPO) and listing on the Main Market of Bursa Malaysia Securities Bhd.
Geohan, through its subsidiaries, provides foundation, geotechnical, and related services for a wide range of construction projects, including residential, commercial, industrial, mixed-use, and infrastructure developments.
The company’s upcoming IPO will involve the public issue of 132 million new ordinary shares, representing 30% of its enlarged share capital of 440 million shares upon listing.
Of these, 22 million shares will be offered to the Malaysian public, 11 million to eligible directors, employees, and contributors to the group, 55 million to approved Bumiputera investors, and 44 million to institutional and selected investors.
In a statement, Geohan managing director Lee Kim Seng said that the company’s journey from its humble beginnings three decades ago to this significant milestone marks an exciting new chapter in its growth.
He said this profound achievement reflects not only the company’s growth, but also the unwavering dedication, exceptional talent, and collaborative spirit of its people who have been instrumental in shaping the group’s success.
“We are scaling for greater success. Building on this strong foundation, we are increasing our number of machinery and equipment to accelerate deployments across multiple projects and locations.
“This expansion of capacity is also expected to expedite delivery timelines, thereby strengthening our competitive edge and supporting our next strategic growth plan to broaden our customer base in Singapore following years of steady growth in Malaysia.
“As we grow, our commitment remains constant - to deliver reliable and innovative end-to-end foundation and geotechnical solutions that set new industry standards and foster lasting client trust,” Lee said.
Alliance Islamic Bank Bhd is the principal adviser, sole underwriter and placement agent for this IPO.
