PETALING JAYA: SKA Capital Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of power infrastructure engineering solutions.
In its prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 168.08 million new ordinary shares.
TA Securities Holdings Bhd is the sponsor for the company’s IPO.
The company said proceeds from the IPO will be utilised for the purchase of machinery and equipment, performance bond for future projects, working capital and listing expenses.
“We intend to leverage on our current capabilities to expand our revenue stream by securing more underground utilities engineering services projects.
“By participating in more underground utilities engineering services projects, we can establish our presence and demonstrate our capabilities, and thereby expand our offering in this segment.”
In conjunction with its plan to secure more underground utilities engineering services projects, SKA Capital said it intends to purchase machinery and equipment within 24 months from its listing.
