Pantech Global Bhd, a manufacturer and exporter of butt weld pipe fittings and welded pipes, has launched its prospectus for its initial public offering (IPO) and forthcoming listing as a Shariah-compliant stock on the Main Market of Bursa Malaysia Securities Bhd (Bursa Securities).
The listing marks a significant milestone for the company, enhancing its profile as a leading Malaysian manufacturer serving 27 foreign markets across the Asia-Pacific, the Americas, Europe, and the Middle East and North Africa.
The IPO is expected to strengthen international confidence in Pantech Global’s technical expertise, production capabilities, and commitment to delivering high-quality solutions. The company’s fluid transmission products exemplify Malaysia’s ability to manufacture reliable, precision-engineered solutions for industries that demand uncompromising standards.
Pantech Global Group Managing Director Adrian Tan stated that the company’s pipes and fittings are designed, manufactured, and tested to meet stringent international certifications. He described the proposed listing as a strategic step towards global expansion.
“The company remains committed to delivering solutions that meet customers’ technical specifications while maintaining strong relationships with on-ground partners in international markets,” Tan said.
“These partnerships provide invaluable local insights that enhance Pantech Global’s offerings and market presence. Transitioning into a public listed entity will further elevate the company’s profile as a true Malaysian manufacturer and reinforce its contribution to the national economy,” he added.
The IPO is set to raise approximately RM178.32 million through the issuance of 262,228,000 new ordinary shares at RM0.68 per share. Based on an enlarged issued share capital of 850,000,000 shares, the expected market capitalisation stands at RM578.00 million.
Pantech Global’s listing represents the first Main Market IPO of 2025, with a retail tranche of 21,250,000 IPO shares available for public subscription. The application period closes on 19 February 2025, with balloting scheduled for 24 February 2025. The listing is targeted for 3 March 2025.
The company has outlined a structured utilisation plan for the RM178.31 million raised through the IPO:
- 37.75% (RM67.32 million): Business expansion, including a new factory and corporate head office in Selangor, a warehouse in Johor to improve order fulfilment, and a pickling facility for longer pipes.
- 36.27% (RM64.68 million): Capital expenditure.
- 12.74% (RM22.72 million): Working capital.
- 8.41% (RM15.00 million): Repayment of bank borrowings.
- 4.83% (RM8.60 million): Listing expenses.
For the financial year ended 2024, Pantech Global recorded revenue of RM440.94 million, with 72.56% derived from foreign markets. In the financial period ending 2025, the company reported RM264.97 million in revenue, with international sales accounting for 75.58%.
Following the IPO, investors will hold a 30.85% stake in the company, while the remaining shares will be retained by Pantech Group Holdings Bhd, its Main Market-listed parent company.
Alliance Islamic Bank Bhd serves as the Principal Adviser, Underwriter, and Placement Agent for the IPO exercise.
