ACE Market bound Wentel Engineering Holdings Bhd is targeting estimated proceeds of RM71.03mil from its initial public offering (IPO) to cater for the next phase of its business expansion.

The group said it will issue 273.2 million new shares at a price of 26 sen a share.

Of the total proceeds, it said 56.31% will be used to part finance the construction of its new manufacturing plant and 35.24% of the amount will go towards part financeing the purchase of new machinery and equipment, while the remaining proceeds will offset listing-related expenses.

Established in 2000, Wentel Engineering Group is principally involved in the fabrication of semifinished metal products, fabrication of metal parts and assembly of finished products for the manufacturers of several industries such as security screening equipment, computer numerical control (CNC) machines, semiconductor manufacturing equipment, medical diagnostics equipment, passenger coaches and industrial 3D printers.

Based on the group’s enlarged share capital of 1.15 billion shares and the aforesaid IPO price, the group's market capitalisation will be approximately RM299mil upon its listing on Feb 6, 2024.

"With the listing status and proceeds from the IPO, we are committed to ongoing growth, innovation and sustainable profitability.

"This IPO represents a new chapter in our journey, providing us with the platform to move forward with greater velocity and the opportunity to build long-term value for our stakeholders," said Wentel Engineering executive director Wong Chun Wei in a statement.

TA Securities Holdings Bhd is the principal adviser, sponsor, underwriter and placement agent of the listing exercise.

Opening of application - 15 Jan 2024

Closing of application - 22 Jan 2024

Balloting of application - 24 Jan 2024

Allotment of IPO shares to successful applicants - 02 Feb 2024

Tentative listing date - 06 Feb 2024

Next Monday closing
So quiet here

kek nexona88 kena sus

Pls vorrect me if i m wrong, revenue 2023 declined...cpe tech v2.0 in making, pls correct me.

And No TP / FV shared too 🤔

FV Wentel

Mercury rm0.36
Cimb rm0.49 (unverified)

Will try some.

#tayor

Don't be like TSA Group already good enough 😁

Yes profit dropping
Red flag
Better skipped since market sentiment are bad

Boss u cant compare tsa and wentel

Wentel
Peers coraza, sfptech, cpetech etc
5% MITI allocation
RM0.26 is very cheap
Low PE
High PAT

Downside
1.15b shares

#tayor

Big share size.
Risk of dumping upon listings?

Risky level is higher

🫣 Risky! Might drop a little vs might increase a lot.

Go play with your emotion.

At RM0.26 worth the risk lol

#tayor

I revise my impression
high risk high return
company rival Spftech , UWC
Big potential

Will see how is the ref number and application and decide tomorrow

can swing either way

I will skip wentel, already hit by cpe tech loss rm4k.

Hope goodluck for those apply wentel, we never know maybe jackpot this wentel.

.....

what the running @ ref number now?

anyone can share @ already applied

Mbb ref 26++now