One Gasmaster Holdings Bhd managing director/CEO Ivan Tan (left) and Malacca Securities Sdn Bhd managing director Lim Chia Wei.
PETALING JAYA: One Gasmaster Holdings Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd in conjunction with its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the provider of environmental monitoring, gas detection and gas piping solutions, as well as industrial hygiene services, said the IPO entails a public issue of 77.5 million new ordinary shares and an offer for sale of 15.5 million existing ordinary shares to selected investors.
Pursuant to the underwriting agreement, Malacca Securities will underwrite a total of 18.6 million public issue shares, being the portion which will be made available to the Malaysian Public via balloting and pink form allocations to eligible directors and employees.
One Gasmaster Holdings provides a comprehensive suite of environmental monitoring, gas detection, gas piping and industrial hygiene services.
These solutions cater to a wide range of industries, including oil and gas companies, chemical companies, power plant operators, manufacturing companies, food and beverage services, government agencies, commercial building owners and industrial building owners.
The gross proceeds from the IPO are earmarked for the expansion of the group’s service offerings to include emission control solutions, the establishment of an additional calibration laboratory at its Damansara office, and the setup of new branch offices and calibration laboratories in Johor, Terengganu and Penang.
One Gasmaster managing director Ivan Tan said the company has built a strong reputation over the past two decades as a trusted solutions provider in environmental monitoring, gas detection and industrial hygiene.
He added that Gasmaster is proud to support key industries such as oil and gas, power generation, manufacturing, food and beverage, and chemicals.
“The signing of this underwriting agreement marks a significant milestone in our IPO journey. From our humble beginnings to this pivotal moment, the journey has been both meaningful and transformative.
“Our growth has been shaped by the dedication and hard work of our people and the trust of our customers who have contributed to building the business into what it is today.
“We believe that the proposed listing will strengthen our market presence, enhance the group’s credibility, and enable us to serve both existing and new clients more effectively. Additionally, it will reinforce our ability to attract and retain talent as we embark on our next phase of expansion,” Tan said.
Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.
