SKA Capital signs IPO underwriting agreement with TA Securities
The proposed ACE Market offering includes 168.08 million new shares and the sale of 72.4 million existing shares.
SKA Capital Bhd has appointed TA Securities Holdings Bhd to underwrite 53.73 million new shares under an agreement for its planned Bursa Malaysia ACE Market listing. The underwriting covers shares allocated to Malaysian public applicants and eligible persons.
The IPO comprises a new-share issue of 168.08 million shares, alongside 72.4 million existing shares offered for sale. Bumiputera investors will receive 111.94 million new shares through placements, with a further 2.41 million earmarked for selected investors. Selected investors will also receive the existing shares.
Public applicants in Malaysia can ballot for 44.78 million shares. A separate allocation of nine million shares is reserved for eligible directors and employees, as well as people who have contributed to the group.
Managing director Datuk Subas Kumar Ambairam said the IPO would improve the group's financial position, enabling it to undertake bigger projects and offer a wider range of solutions. The group plans to grow its underground utilities engineering operations and seek additional projects throughout Peninsular Malaysia.
SKA Capital's engineering work covers power infrastructure such as substations and underground utilities. The group, which has operated for about 17 years, also trades in electrical devices and equipment, along with construction materials.
SKA Capital reported RM30.8 million in profit after tax and revenue of RM241.36 million for the financial year that ended on March 31, 2025. Besides underwriting, TA Securities is handling the IPO's principal advisory, sponsorship and placement roles.
