KUALA LUMPUR: Liftech Group Bhd aims to raise RM23mil through its initial public offering (IPO) for its proposed listing on the ACE Market of Bursa Malaysia on June 30, 2026.
The industrial lifting and handling equipment specialist plans to utilise RM13.8mil, or 60% of its IPO proceeds, to repay bank borrowings undertaken to finance the acquisition of its operational facilities in Bukit Minyak, Penang and Kota Kinabalu.
It said a further RM1.7mil will be allocated for the purchase of machinery and equipment for its Taiping factory, RM1mil for renovation and upgrading works, RM2mil for working capital, and RM4.5mil for estimated listing expenses. — Bernama
