Liftech Group Bhd starts RM23 million IPO priced at RM0.29 per share

Liftech Group Bhd launched its initial public offering (IPO) at RM0.29 (29 sen) per share on June 8, 2026, aiming to raise about RM23 million. The subscription period will close on June 16, with balloting on June 19 and share allocation on June 24. The company plans to list on Bursa Malaysia's ACE Market on June 30, 2026 ^{[1, 2]}.

The IPO offers 79.23 million shares, which will bring the enlarged share capital to approximately 314.9 million shares and a market capitalization near RM91.3 million after listing ^{[1, 2]}. Liftech's outstanding orders as of May 10 total around RM41.6 million, expected to be recognized over the next six to nine months ^{[1, 2]}.

For fiscal year 2025, Liftech reported a net profit between RM6.86 million and RM6.9 million, with revenue near RM57.86 million to RM57.9 million ^{[1, 2]}. Managing director Wong Shih Kai said repaying borrowings would improve the company’s balance sheet and financial flexibility. He added that acquiring operating facilities in Bukit Minyak, Penang, and Kota Kinabalu, Sabah, will strengthen market presence and enhance customer service in key growth areas ^[2].

Approximately 59.8% of funds raised will repay bank loans linked to these acquisitions. The remaining proceeds will finance machinery and equipment purchases, factory refurbishment, working capital, and listing expenses. Reported machinery allocations vary, from about RM1.7 million to RM3.82 million, and factory refurbishment around RM1 million ^{[1, 2]}.

Key insiders including Wong Shih Kai and executive director Wong Ping Whong will sell shares worth roughly RM4.58 million through the IPO ^[1]. The share offer includes allocations for the Malaysian public (15.8 million shares), qualified directors and employees (7.2 million), approved Bumiputera investors (39.4 million), and selected investors (16.8 million) ^[2].

RHB Investment Bank is serving as advisor, sponsor, underwriter, and placement agent, with Wyncorp Advisory as corporate finance advisor ^{[1, 2]}. The subscription deadline is June 16, with the full IPO timetable proceeding through balloting on June 19, allocation on June 24, and official listing on June 30, 2026 ^[2].