Pan Merchant gears up for ACE Market listing in Q2
The IPO exercise entails 250.2 million ordinary shares in Pan Merchant, comprising 232.2 million new shares and 18.0 million offer-for-sale shares.
The total number of shares represents 27.3 per cent of the enlarged share capital.
Of the new shares, 114.5 million will be offered to Bumiputera investors and 57.3 million will be allocated to selected investors, both via private placement.
A total of 45.8 million new shares will be offered to the Malaysian public via balloting, and 14.6 million new shares will be made available for application by eligible directors, employees and contributors to the group.
"We are pleased to have Affin Hwang on board, supporting us with their experience and market insights in our IPO journey," managing director Wong Voon Ten said in a statement today.
"As we embark on this IPO, we are eager to tap into the opportunities the capital market offers to drive our next phase of growth with our listing status," he added.
Pan Merchant provides filtration solutions for industries such as edible oil refining, sustainable fuel production, food processing and water treatment.
Its operations cover Malaysia, Singapore, the Netherlands and the United States, with three manufacturing facilities spanning 4.05 hectares in Ipoh, Perak.
Proceeds from the IPO will primarily be used for capital expenditure, including the acquisition of new machinery, equipment, and tools, as well as renovation of the group's manufacturing plants to enhance operational capacity and efficiency.
A portion of the funds will also be allocated for product development, business expansion, working capital and estimated listing expenses.
Affin Hwang is the principal adviser, sponsor, sole placement agent, and sole underwriter for the group's IPO.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
an hour ago
- The Sun
Lang International Corporate Titan Awards (LICTA) : A Strategic Platform Quietly Transforming the Future of Malaysian SMEs
In a business landscape where awards are often seen as ceremonial accolades, the Lang International Corporate Titan Awards (LICTA) is quietly redefining what it means to be recognised. For many Malaysian entrepreneurs, LICTA has become a strategic platform that opens real doors — to policy-makers, government-backed support, and exclusive influence circles. Organised by the Malaysian Game Changer Foundation (under the Prime Minister's Department) and the Global Entrepreneur Development Cooperative (registered under the Ministry of Entrepreneur and Cooperative Development), LICTA is fast gaining traction as a national-level initiative empowering small and medium enterprises (SMEs) across the country. Not Just Recognition, But Real Results LICTA goes beyond the glitz of awards night. Each recipient is strategically matched to an award that reflects their core business strength — such as Excellent Supplier of Fertiliser Products, AI-Driven Business Solutions Trailblazer, or Excellence in Corporate Social Responsibility. This custom-fit recognition is more than a title — it's a positioning tool. It helps entrepreneurs stand out in their industries, improve credibility, and attract high-level collaborations. 'It's one of the best business decisions we've ever made,' shared a group of past awardees. A Pathway to Policy, Not Just Publicity One of LICTA's biggest appeals is its behind-the-scenes access to government-linked opportunities — an area many SMEs find difficult to tap into. Through LICTA, businesses can engage in: • Closed-door dialogues with government ministries and agencies • Private business roundtables at Parliament and state offices • Direct access to institutions such as SME Bank, EXIM Bank, MARA, MyIPO, SJPP, SME Corp and others The platform helps businesses navigate soft loans, grants, honorary titles, licensing, and tax incentives — often missed due to lack of awareness or connection. 'You don't need insider links — just credible merit,' noted the organising team. No Courses, No Sales – Just Real Mentors Unlike many commercial programmes, LICTA doesn't sell courses or coaching packages. Instead, awardees are connected with real industry leaders and practitioners offering one-on-one guidance in funding, branding, digitalisation, operations and AI integration. 'They didn't just tell us what was wrong — they gave us solutions that worked,' said another recipient. Entering the Circles That Matter Beyond government access, LICTA is also a bridge to elite diplomatic and business networks. Collaborating with federal agencies, state palaces and foreign embassies, LICTA regularly hosts high-level business exchange events that are usually closed to the public. These invite-only events offer priceless visibility and relationship-building — a rare opportunity for SMEs to expand their influence. Awards for Every Business Stage Whether you're a startup or a seasoned player, LICTA offers tailored categories: • Outstanding Potential Award – For micro and early-stage businesses, offering mentorship on funding, market entry and modelling • Executive Vanguard Leadership Award – For visionaries driving long-term sector transformation Each award is backed by follow-up support and resource-matching — making it more than a symbolic win. Screening Now Open for Next Cohort Evaluation for the next LICTA award cycle is now in progress. Business owners are encouraged to apply early to gain access to full pre-award support. 'LICTA is not just an award; it's an access point — to people, to capital, and to credibility,' said the organising committee. Interested entrepreneurs can contact the organising team to apply via WhatsApp to +6012-813 9168 or +6012-979 0464. For further information, find Lang International Corporate Titan Awards (LICTA) on Facebook, YouTube or visit the official website, The government values LICTA, shown by its support and the top official personally receiving every visit.
The Sun
2 hours ago
- The Sun
US tariff rate won't affect Malaysia's commodities market, says Johari
JOHOR BAHRU: The United States' decision to impose a 19 per cent reciprocal tariff on Malaysian goods will not affect the competitiveness of Malaysia's commodities in the global market, according to Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He stated that the tariff rate remains competitive compared to other ASEAN nations, including Indonesia, which faces the same rate. 'We're almost on par with the lowest rates in ASEAN. For example, Indonesia is the world's top producer of oil palm, and we're number two. 'They are also subject to the 19 per cent rate, so for us, 19 per cent is fair. It's not a problem,' he said. Johari made these remarks after attending the Pasir Gudang UMNO Division delegates meeting earlier today. The US announced the new tariff rate yesterday, reducing it from the previously proposed 25 per cent. The revised tariffs, effective August 1, 2025, will apply to imports entering the US seven days after the announcement, as stated on the White House's website. - Bernama
Malaysiakini
2 hours ago
- Malaysiakini
Ministry in 'active discussions' with firm claiming Japan expo plagiarism
The Investment, Trade and Industry Ministry said it is currently conducting 'active discussions' with a company that accused the ministry of plagiarising its design for Expo 2025 in Osaka, Japan. Last month, the ministry was slapped with a letter of demand seeking compensation and acknowledgement of the direct marketing company's designs for the Malaysian pavilion at the international exposition.
