PENANG-BASED engineering solutions provider Oxford Innotech Bhd has received approval from Bursa Malaysia to proceed with its IPO on the ACE Market, paving the way for its planned listing in the third quarter of 2025 (3Q25).
The company, which provides engineering services across the semiconductor, electronics, automotive and modular building sectors, had submitted its draft prospectus in December 2024.
“We are grateful to Bursa Malaysia Securities for granting us the approval to list on the ACE Market. This reflects a shared confidence in our group’s capabilities and the strategic value we bring to the engineering ecosystem, as well as the broader equity market,” said MD Ng Thean Gin.
“It is exciting times ahead for Oxford Innotech where we see great growth opportunities, particularly in the semiconductor and modular building systems sectors.”
According to the company, proceeds from the IPO will be used to fund the construction of a second factory in Penang Science Park (Phase 2), aimed at increasing its production capacity through the acquisition of new machinery for both the new and exist- ing facilities.
Construction is expected to commence in 1Q26, with completion targeted by 1Q27 and operations set to begin by 3Q of the same year.
The funds raised will also be used for working capital and to cover listing-related expenses.
Oxford Innotech’s IPO will involve up to 193.46 million shares, comprising a public issue of 143.46 million new shares — representing 20.21% of the enlarged share capital — and an offer for sale of 50 million existing shares (7.04%), according to its draft prospectus.
The offering will collectively give the public a 27.25% stake in the company. Of the 143.46 million new shares, 35.5 million will be offered to the Malaysian public, 27 million to eligible persons and 80.96 million to Bumiputera investors via private placement.
Meanwhile, the 50 million existing shares will also be placed out privately — 7.8 million to Bumiputera investors and 42.21 million to selected institutional and individual investors. Malacca Securities Sdn Bhd is the principal advisor, sponsor, underwriter and placement agent for the IPO, while Wyncorp Advisory Sdn Bhd is acting as the corporate finance advisor. — TMR
- This article first appeared in The Malaysian Reserve weekly print edition
The post Oxford Innotech gets Bursa nod for ACE Market IPO, eyes 3Q25 listing appeared first on The Malaysian Reserve.
