KUALA LUMPUR: Integrated engineering and automation solutions provider SFP Tech Holdings Bhd, en route to a listing on Bursa Malaysia’s ACE Market on June 20, 2022, plans to raise RM62.23 million from its initial public offering (IPO).

At an issue price of 30 sen per share, the IPO entails a public issue of 207.44 million new shares. Of that amount, it has allocated 40 million shares to the Malaysian public, 24 million to eligible directors and employees, 43.44 million to selected investors by way of private placement, and100 million to bumiputras approved by the Ministry of International Trade and Industry, also by way of private placement .With an enlarged share capital of 800 million shares, the group will have a market capitalisation of RM240 million upon listing.

The Penang-based investment holdings company is primarily engaged in the provision of management services. Through its subsidiaries, SFP Tech is involved in the provision of sheet metal fabrication, CNC machining and mechanical assembly services as well as the provision of automation equipment solutions.

SFP Tech managing director Keoh Beng Huat said the company’s IPO journey is an important step in its business expansion plans as it looks to grow the group.

“We believe that this listing exercise will enhance our corporate profile as we continue to seek more opportunities to drive our future growth. We will continue to capitalise on our strengths to generate sustainable revenue from our existing businesses. We believe our strong fundamentals will put us in a solid position, and we are confident that we can deliver commendable performance in the coming years,” he said in a statement in conjunction with its IPO prospectus launch today.

Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for SFP Tech’s IPO.

Tel: +603-7784 6688      Fax: +603-7785 2624 / +603-7785 2625