Computer infrastructure firm Pentech Holdings Bhd has entered into an underwriting agreement with Public Investment Bank Bhd for its upcoming initial public offering (IPO) on the ACE Market.
Under the agreement, Public Investment Bank will underwrite approximately 62 million shares, representing 10% of Pentech’s enlarged share capital. This covers shares allocated to the Malaysian public as well as the “pink form” tranche for eligible parties.
Pentech managing director and chief executive officer Yeoh Chin Ming said the agreement marks an important milestone in the company’s listing journey and reflects confidence in its business prospects. He added that the timing is favourable, as the group is well-positioned to capitalise on growth opportunities within Malaysia’s ICT sector.
Based in Penang, Pentech specialises in enterprise ICT infrastructure, including systems integration, hardware and software supply, as well as cloud and related services.
In the financial year ended Dec 31, 2024, more than half of the company’s revenue was derived from systems integration projects involving enterprise data centres, network infrastructure and security systems. Pentech recorded a net profit of nearly RM10 million on revenue of RM188.94 million for the year.
Following the IPO, Yeoh is expected to retain joint control of about 60% of the company through Evernorth Capital Sdn Bhd, together with chief sales officer Ho Huang Ken and business development director Toh Say Yee.
Public Investment Bank is acting as principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.
