KAF is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO, which is expected to take place in mid-November 2025.
Of the public issue, 44.60 million shares will be made available to the Malaysian public via balloting, 22.30 million shares to eligible directors, employees and contributors to the group, and 111.51 million shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
The offer for sale will be placed out to selected investors.
Proceeds from the IPO will be used for business expansion, including the construction of a new facility in Tanjung Manis, Sarawak, to manufacture spun poles and piles, the purchase of new machinery and equipment, working capital and listing expenses.
PMW ED and CEO Lee Hon Hwa said The IPO will fund the group’s expansion, including a new facility in Tanjung Manis to serve East Malaysia’s infrastructure growth, while strong federal support and rising electricity demand create opportunities in utility infrastructure, and its subsidiary PMW Lighting is set to benefit from growing demand driven by infrastructure projects and urbanisation.
PMW operates manufacturing facilities in Perak and Sabah and exports to regional and international markets. — TMR