KUALA LUMPUR: GTA Holdings Bhd, an aircraft engine maintenance, repair and overhaul (MRO) services provider, aims to raise RM71.75 million from its initial public offering (IPO).
The company is slated for listing on the ACE Market of Bursa Malaysia on Sept 8, 2026.
Its managing director and chief executive officer Datuk Nonee Ashirin Mohd Radzi said the IPO will support several strategic initiatives designed to strengthen the company’s long-term operating platform.
"The IPO proceeds will be utilised for the establishment of a new operating facility, the expansion of our helicopter MRO into the Middle East through selected opportunities, the expansion of our MRO capabilities into landing gears, wheels, and brakes, as well as support our working capital requirements and listing expenses.
"We also intend to deepen out technical capabilities, broaden customer base and geographical reach, develop our people further, and build our long relationship with original equipment manufacturers and new ones in the future," she said in her speech at the launch of GTA’s prospectus here, today..
According to the prospectus, out of the total proceeds, RM25 million or 34.84 per cent will be utilised to establish a new operating facility, RM10 million (13.94 per cent) has been allocated to expand helicopter MRO activities in the Middle East, and RM5.90 million for the expansion into MRO of landing gear, wheels and brakes.
"The remaining RM24.15 million (33.66 per cent) will go towards general working capital requirements including day-to-day operational needs, and RM6.70 million (9.34 per cent) to defray listing expenses" it said.
The IPO comprises the issuance of 329 million shares in GTA, consisting of a public issue of 205 million new ordinary shares and 124 million existing shares at an issue price of 35 sen per share.
With an enlarged share capital of 1.29 billion shares, GTA's total market capitalisation upon listing is expected to be approximately RM451.97 million.
Application for the retail offering opens today and will close at 5 pm on Aug 26, 2026.
Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO. - Bernama
