Bursa Malaysia Approves PMW International's Listing on ACE Market, Raises RM177.9 Million through IPO

PMW International has been approved to list on Bursa Malaysia's ACE Market. The company will undertake an initial public offering (IPO) of 178.41 million new ordinary shares and an offer for sale of 89.21 million existing ordinary shares. Proceeds from the IPO will be used to venture into the Sarawak market and invest in new technology to meet demand growth for infrastructure development. KAF Investment Bank is the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO.

Kuching, July 2, 2025 — PMW International Bhd, a manufacturer of pre-stressed spun concrete poles, piles, and related reinforced concrete products, has received approval from Bursa Malaysia Securities Bhd for its listing on the ACE Market. The company will undertake an initial public offering (IPO) of 178.41 million new ordinary shares and an offer for sale of 89.21 million existing ordinary shares [1].

The IPO exercise entails the public issuance of 44.6 million new shares to the Malaysian public via balloting, 22.3 million to eligible personnel, and 111.5 million to Bumiputera investors approved by the Investment, Trade, and Industry Ministry. The offer-for-sale shares will be placed out to selected investors [1].

Executive Director and CEO Lee Hon Hwa stated that the listing marks a major milestone for the company. The proceeds from the IPO will allow PMW International to enter the Sarawak market with a new plant in Tanjung Manis and invest in new technology to meet growing infrastructure demand locally and abroad [1].

KAF Investment Bank Bhd is acting as the principal advisor, sponsor, sole underwriter, and placement agent for the IPO [1].

References:
[1] https://www.businesstoday.com.my/2025/08/25/pmw-international-secures-bursa-approval-for-ace-market-listing/
[2] https://cryptonewsland.com/blockdags-1-near-term-price-projection-challenges-solana-and-ripples-current-market-buzz/
[3] https://dayakdaily.com/irrigation-projects-worth-rm272-mln-to-anchor-sarawaks-rice-bowl-goal-under-rmk-13/