KUALA LUMPUR: Power and equipment solutions provider TP TEC Holding Bhd made its debut on the LEAP Market of Bursa Malaysia today at 13 sen, a 30 per cent premium over its initial public offering (IPO) price of 10 sen.
The listing, achieved via introduction without issuing new shares and no funds raised, helps TP TEC Holding's expansion strategy, enabling it to capitalise on rising demand for power solutions as investments flow into 5G connectivity, data centres and large-scale infrastructure across Malaysia.
The group, with a market capitalisation of RM25 million based on the IPO price, aims to strengthen its corporate profile and access capital markets for future growth.
"Our listing highlights the strength of our business model and commitment to providing reliable and sustainable power solutions. It elevates our profile and positions us for new growth opportunities," said managing director Lau Poh Keong. "With accelerated 5G deployment, the Jalinan Digital Negara (Jendela) initiative, and increased infrastructure development, demand for scalable power solutions is growing," Chief executive officer Eric Chew added.
"Our expertise places us in a strong position to meet this demand, particularly in rural and off-grid areas where stable power is critical," he said.
In a private share subscription exercise earlier this year, TP TEC raised RM2.5 million, of which 60 per cent of the proceeds will be used to expand its fleet of power generators, while 40 per cent will cover listing expenses.