Kuala Lumpur, 16 October 2025 — Powertechnic Group Berhad (“Powertechnic” or “the Company”), a specialist in crane and hoist systems, elevated platforms, and elevator solutions, has announced that its initial public offering (IPO) received overwhelming investor response, with the public portion oversubscribed by 46.35 times.
The remarkable demand underscores market confidence in Powertechnic’s engineering expertise, long-term business prospects, and expansion strategy ahead of its listing on the ACE Market of Bursa Malaysia Securities Berhad on 28 October 2025.
Public Issue and Offer for Sale Structure
Powertechnic’s IPO consists of a public issue of 63 million new shares and an offer for sale of 21 million existing shares, making up a total of 84 million shares. The structure was divided across multiple investor categories:
- Malaysian Public: 15.6 million shares (5.02% of enlarged issued capital)
- Eligible Parties (Directors, Employees, Contributors): 10 million shares (3.22%)
- Private Placement (Selected Investors): 19.6 million shares (6.32%)
- Private Placement (Bumiputera Investors via MITI approval): 17.8 million shares (5.74%)
- Offer for Sale (MITI-approved Bumiputera Investors): 21 million shares (6.77%)
According to the company, the Malaysian public tranche saw 10,392 applications for 738.6 million shares, resulting in an oversubscription rate of 46.35 times.
Within this, the Bumiputera public portion recorded 5,310 applications for 355.98 million shares (44.64 times oversubscription), while the other Malaysian public portion saw 5,082 applications for 382.65 million shares (48.06 times).
Leadership Commentary
Mr. Ivan Na Keh Chai, Managing Director of Powertechnic Group Berhad, said the overwhelming demand demonstrates the market’s strong faith in Powertechnic’s fundamentals and forward strategy:
“We are deeply grateful for the response from investors, which reflects confidence in Powertechnic’s capabilities and growth prospects. This overwhelming support underscores the market’s recognition of our commitment to delivering efficient and customised lifting solutions. The IPO proceeds will enable us to invest in automation, expand our market coverage, and strengthen our position as a specialist in lifting systems in Malaysia and new target areas.”
Echoing this sentiment, Mr. Choo Chee Yong, Executive Director, described the listing as a strategic leap for the company’s next phase of growth:
“The overwhelming interest in our IPO is an endorsement of Powertechnic’s business fundamentals and long-term vision. As we take this significant step forward as a publicly listed company, we are focused on scaling our capabilities, enhancing our engineering expertise, and unlocking new growth opportunities. This milestone reflects our resilience and strategic focus, and we remain committed to delivering sustainable value to our stakeholders.”
Driving Growth Through Specialisation and Innovation
Founded as a niche player in lifting and material-handling systems, Powertechnic has built a strong reputation for custom-engineered solutions in cranes, hoists, and elevators, catering to manufacturing, construction, and industrial clients across Malaysia.
The Group’s steady expansion and commitment to automation and R&D have positioned it to capture opportunities arising from Malaysia’s industrial modernisation and infrastructure upgrades.
Analysts note that Powertechnic’s planned use of IPO proceeds, primarily for automation investments, business expansion, and working capital, signals its readiness to scale regionally while maintaining engineering precision and quality control.
Upcoming Listing
Powertechnic Group Berhad is set to debut on the ACE Market of Bursa Malaysia on 28 October 2025, with TA Securities Holdings Berhad acting as the Principal Adviser, Sponsor, Underwriter, and Placement Agent.
The listing marks the next step in Powertechnic’s transformation from a specialised engineering provider into a publicly listed growth company ready to pursue regional projects and strategic partnerships.
With its strong order book and growing demand across construction, logistics, and industrial sectors, Powertechnic’s IPO performance reflects renewed investor appetite for Malaysia’s mid-tier industrial and manufacturing equities.
