Industrial automation solutions provider and equipment maker GREATECH TECHNOLOGY BERHAD (“Greatech”) <阁代自动化设备(马)有限公司> has clinched the approval of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) to proceed with its Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia.
Greatech and its subsidiaries (the “Group”) are involved in the design, manufacturing, installation and commissioning of customised single automated equipment up to production line systems for process automation. For the five months ended 31 May 2018, the Group reported revenue and net profit of RM 74.2 million and RM 21.7 million, respectively. Boasting of a global clientele base which includes the First Solar group of companies and Panasonic, more than 80% of revenue was derived from international markets. In line with increasing focus on production automation, the Group has charted impressive growth trajectory with revenue multiplying by more than four folds over the last three financial years.
Chief Executive Officer Tan Eng Kee < 陈荣棋 > quoted, “Industry 4.0 is revolutionizing industrial operations and reshaping the way we work. With rising labour costs and a constant drive towards quality improvement, automation has become the benchmark of competency. This plays well into our strengths of delivering efficient and innovative automation solutions which assist our clients to transform and optimize their production.
The IPO is timely for us as we are on the brink of expansion. Our new plant in Bayan Lepas will be coming on stream later this year and we will also be setting up offices in the USA to serve our key customers. With the massive stage set for industrial automation, we are optimistic of our prospects and are well poised to ride the wave of Industry 4.0. This IPO will allow us to increase the pace of our growth and enhance our market standing.”
The IPO comprises of a total of 119.75 million shares wherein 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.