KUALA LUMPUR: Civil and environmental engineering services provider Wil-Key Bhd has received Bursa Malaysia Securities Bhd’s approval to list on the ACE Market.
The company’s initial public offering (IPO) will comprise a public issue of 88.46 million new shares and an offer for sale of 38.25 million existing shares.
The 126.71 million shares represent 28.2% of Wil-Key’s enlarged share capital of 450 million shares upon listing.
Wil-Key provides civil and environmental infrastructure services, geosynthetic systems and related products and services, mainly for the waste management, renewable energy, water and wastewater, agriculture and public infrastructure sectors.
The group is involved in the construction of a new sludge management facility in Singapore under a RM138mil project awarded by the Public Utilities Board of Singapore in 2024.
Wil-Key executive director and chief executive officer Eric Yap Ming Der said the proposed listing would support the expansion of its civil and environmental infrastructure and geosynthetic businesses.
“Demand in our core markets is driven by environmental regulation and essential public services.
“The upcoming listing will strengthen our capacity to grow our civil and environmental infrastructure and geosynthetic businesses, and to expand into the engineering, procurement, construction and commissioning (EPCC) of renewable energy facilities, particularly biogas power generation facilities,” he said.
Wil-Key, which began operations in 2001, is targeting a listing by the first quarter of 2027.
TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.
