PETALING JAYA: Raiden Holdings Bhd is targeting a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of integrated mechanical and electrical systems for end-user industries and related products and services, the provision of fire protection and electrical systems, and the provision of extra low voltage security and communication systems.
In its draft prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 210 million new ordinary shares.
Alliance Islamic Bank Bhd is the sponsor for the company’s IPO.
The company said the proceeds from the IPO will primarily be used for business expansion, capital expenditure and working capital.
