KUALA LUMPUR, Wintech Metal Bhd, a Selangor-based manufacturer of metal parts, furniture, and portable work pods, plans to list on the ACE Market of Bursa Malaysia to raise funds for working capital, new machinery and equipment, and loan repayment.
According to its draft prospectus, the proposed initial public offering (IPO) involves up to 27.5% of the company’s enlarged share capital. This includes a public issue of 132.49 million new shares, representing 20.38%, and an offer for sale of 46.26 million existing shares or 7.12%.
The company’s main shareholders are brothers Wong Kim Hwa and Wong Kim Loong, who currently own 52.8% and 29.1% stakes, respectively, along with Loong Tuck Soon, who holds 9.7%. Following the IPO, Kim Hwa’s shareholding will fall to 42.07%, Kim Loong’s to 21.03%, and Loong’s to 7.01%.
With over two decades of experience, Wintech exports its products globally, with the United States being its largest market. However, its products have recently been affected by new US import tariffs.
Financially, the group has remained profitable over the past three years, although net profit dropped from RM20.66 million in FY2022 to RM11.71 million in FY2024, as margins contracted from 19.39% to 9.82%. Public Investment Bank Bhd is serving as the principal adviser, sponsor, underwriter, and placement agent for Wintech Metal’s IPO.
