PETALING JAYA: Pioneer Heat Holdings Bhd 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) entailed the public issue of 86.7 million new shares.
The company said proceeds from the IPO would be used to set up its new headquarters in Sendayan, Negri Sembilan, a new Sarawak office and purchase machinery and equipment.
“The new Sendayan headquarters will have a total built-up area of 42,790 sq ft, which consists of a three-storey office building together with a one-storey workshop and one-storey warehouse,” it said.
Malacca Securities Sdn Bhd is the sponsor for the company’s IPO.
