PETALING JAYA: Pioneer Heat Holdings Berhad is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of mechanical engineering services and civil engineering projects to construct industrial and ancillary facilities.
In its prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 86.7 million new ordinary shares.
The company said proceeds from the IPO will be used to set up its new headquarters in Sendayan, Negeri Sembilan; to set up a new Sarawak office and purchase machinery and equipment.
“The new Sendayan headquarters will have a total built-up area of approximately 42,790 sq ft, which consists of three-storeys of office building together with a one storey workshop and one-storey warehouse.
“We intend to expand our market presence in East Malaysia through the setting up of a new office and workshop in Sarawak.”
Malacca Securities Sdn Bhd is the sponsor for the company’s IPO.
