Pioneer Heat Holdings Bhd is planning to list on the ACE Market of Bursa Malaysia as part of its growth and expansion strategy.
The group is mainly engaged in providing mechanical engineering services, as well as undertaking civil engineering works for the construction of industrial and supporting facilities across various sectors.
In its prospectus exposure, Pioneer Heat said its initial public offering (IPO) will involve the issuance of 86.7 million new ordinary shares. The proceeds raised from the IPO will be channelled towards strengthening the group’s operational capabilities and expanding its footprint.
A significant portion of the funds will be used to establish a new headquarters in Sendayan, Negeri Sembilan, alongside the setup of a new office in Sarawak. The company also plans to allocate part of the proceeds for the purchase of additional machinery and equipment to support its project execution capacity.
According to the prospectus, the new Sendayan headquarters will feature a total built-up area of 42,790 square feet, comprising a three-storey office building, a one-storey workshop and a one-storey warehouse. The facility is expected to enhance operational efficiency and provide a centralised base for the group’s administrative and engineering activities.
Malacca Securities Sdn Bhd has been appointed as the sponsor for Pioneer Heat’s proposed ACE Market listing.
