GREATECH TECHNOLOGY BERHAD (“Greatech” or the “Company”) <阁代科技有限公司> an industrial automation solutions provider has inked an underwriting agreement with its sole underwriter, Alliance Investment Bank Berhad en route to its listing on the ACE Market of Bursa Malaysia Securities Berhad.
Commenting on this event, Chief Executive Officer EK Tan <陈荣棋> said: “The signing of the underwriting agreement marks a key milestone in our IPO journey. Backed by the proceeds from our IPO, we are expanding our production capacity and business operations. Our expansion will allow us to progress beyond our past success in providing industrial automation solutions for the solar, semiconductor and consumer electronics sectors to new sectors such as the battery segment. We believe that we have multiple opportunities to stake a greater claim in the global industrial automation industry as businesses worldwide, especially multinational corporations, have started to embrace Industry 4.0 in pursuit of higher efficiency”.
Greatech’s IPO comprises of a total of 119.75 million shares where 18.78 million shares will be made available to the Malaysian public, 9.39 million shares will be set aside for eligible directors, employees and business associates, 22.72 million shares will be offered via private placement to selected investors and the remaining 68.86 million shares for Bumiputera investors approved by the Ministry of International Trade and Industry.
Alliance Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Greatech’s IPO.