KUALA LUMPUR (Oct 28): PMW International Bhd on Tuesday launched its initial public offering (IPO) that will raise close to RM91 million from the ACE Market.

The concrete products maker is now accepting applications from investors for its shares at 34 sen apiece, according to its prospectus. The IPO will raise RM60.66 million for PMW from the public issue of new shares and another RM30.33 million for its selling shareholders from the sale of existing shares.

Applications for the IPO will close on Nov 6, and listing is scheduled for Nov 18.

PMW manufactures and sells a variety of pre-stressed concrete products, including spun concrete poles, piles and related items. The company also produces moulds, machinery and lighting products for the power, telecommunication and construction sectors in Malaysia and abroad.

Based in Lahat, Perak, PMW also has manufacturing facilities in Sabah.

Nearly 78% of the IPO proceeds will support business expansion, including the construction of a new facility in Tanjung Manis, Sarawak, to manufacture spun poles and piles to better serve customers in East Malaysia and tap into growing infrastructure opportunities in Sabah and Sarawak.

The remainder will be used to purchase new machinery and equipment, and as working capital.

Proceeds from the offer for sale, meanwhile, will go to chief executive officer Lee Hon Hwa and his siblings Khim Hwa and Siew Yoke as well as Richard Lee, who is in charge of overseeing PMW’s Sabah operations. Khim Hwa is the executive director responsible for business development while Siew Yoke is the chief human resources officer.

KAF Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.

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This post has been edited by dz91: Nov 19 2025, 03:43 PM