PETALING JAYA: GTA Holdings Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of maintenance, repair and overhaul for helicopter and fixed wing engines, their parts and components.
In its prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 205 million new ordinary shares.
The company said proceeds from the IPO will be used to establish a new operating facility, expansion of helicopter maintenance, repair and operations (MRO) activities in the Middle East, expansion into MRO of landing gear, wheels and brakes and working capital.
“We intend to expand our helicopter MRO activities beyond Malaysia, diversifying our customer base and expanding our geographical presence.
“We intend to pursue selected opportunities in the Middle East, subject to market conditions and the relevant regulatory requirements, through joint venture arrangements with suitable local partners.”
GTA said joint venture arrangements with local partners would facilitate its entry into the Middle East.
Additionally, the company said it intends to expand its MRO service offerings to include MRO of aircraft landing gear, brakes and wheels for the fixed-wing aircraft.
“We believe that our expansion through this combined approach provides a strategic local interface for landing gear overhaul management, a growing in-country capability for wheels and brakes support, and industrial development.”
