RDS Partnership congratulates Master Tec Group Berhad (Master Tec) on its successful listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) on 29 January 2024.
The group is principally involved in the manufacturing and distribution of a wide range of high-performance low voltage power cables, control and instrumentation cables as well as trading of medium voltage (MV) power cables, fibre optic cables and solar direct current power cables.
Master Tec’s IPO entails an enlarged share capital totalling 1.02 billion shares at an IPO price of 39 sen per share, giving Master Tec a market capitalisation of RM397.8 million at its opening on the morning of its listing.
Master Tec raised a total of RM61.66 million through its IPO whereby RM16.78 million would be utilised for the construction of two manufacturing plants in Alor Gajah, Melaka while RM24.39 million will be used to purchase new machinery and equipment for its expansion into the manufacture of medium voltage power cables.
We are pleased to have played a part in the listing exercise as Master Tec’s IPO solicitors. Our Capital Markets & M&A Head & Partner, Ong Eu Jin together with Partner, Lily Lee Zai-Lii and Senior Associate, Christin Wong Tsui Yuan and Associate, Charmaine Lim Ming Li were the key lawyers involved in this corporate exercise.
Our Capital Markets & M&A team is active in the IPO space. If you have any queries, please contact our Capital Markets & M&A Partners, Ong Eu Jin at email@example.com or Lily Lee at firstname.lastname@example.org
29 January 2024