KUALA LUMPUR: SCA Solutions Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its proposed listing on Bursa Malaysia’s ACE Market.
In a statement, the mechanical and electrical engineering solutions provider said the initial public offering (IPO) will comprise 170.9 million shares, representing 30% of its enlarged share capital of 569.6 million shares upon listing.
The exercise involves a public issue of 114 million new shares and an offer for sale of 56.9 million existing shares.
Of the new shares, 28.5 million will be offered to the Malaysian public and 5.7 million to eligible directors and employees.
Another 71.2 million shares will be placed with Bumiputera investors approved by the Investment, Trade and Industry Ministry, while 8.6 million will be placed with selected investors.
The 56.9 million existing shares offered for sale will also be placed with selected investors.
SCA Solutions managing director Tan Cheng Eng said the company provides heating, ventilation, and air conditioning (HVAC) and fire safety instrumentation, as well as water treatment solutions for HVAC applications, serving buildings and infrastructure including hospitals and data centres.
“As we enter a new chapter, we are ready to take our business to the next level. The IPO will lay the groundwork for us to deepen our expertise, expand our capabilities, and capture greater opportunities in the market,” he said.
SCA Solutions said the majority of the IPO proceeds would be used for its expansion, including establishing a new integrated facility in Kapar, Selangor, as well as increasing inventory and expanding its sales and marketing activities.
The company, which provides HVAC, fire safety instrumentation and HVAC water treatment solutions, is targeting a listing in the fourth quarter of 2026.
Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.
