GTA Holdings Receives Bursa Malaysia Approval For ACE Market Listing

KUALA LUMPUR, June 26 (Bernama) -- Aviation maintenance company GTA Holdings Bhd has received Bursa Malaysia approval for listing on the ACE Market.

Its managing director and chief executive officer Datuk Nonee Ashirin Mohd Radzi said the approval marks an important milestone in its corporate journey, reflecting the progress in building a specialised aviation support business with strong technical capabilities, trusted customer relationships and a clear growth strategy.

“The initial public offering (IPO) will allow us to strengthen our operational capabilities, expand into complementary aviation support segments and enhance our market reach in Malaysia and beyond.

“We believe this will place GTA in a stronger position to capture opportunities in the aviation maintenance and support industry while continuing to deliver long-term value to our stakeholders,” she said in a statement.

According to GTA’s prospectus, the proposed IPO will involve 329 million shares, comprising a public issue of 205 million new shares and an offer for sale of 124 million existing shares, in conjunction with its ACE Market listing.

The group said the public issue includes 64.57 million shares for application by the Malaysian public, 12.91 million shares for eligible directors and employees, and 127.52 million shares by way of private placement to institutional and selected investors.

“Based on the enlarged issued share capital of 1.29 billion shares, the IPO shares represent approximately 25.48 per cent of the company’s enlarged share base,” it said.

GTA Holdings said the proceeds raised from the public issue would be used to set up a new operating facility, for the expansion of helicopter maintenance, repair and overhaul (MRO) activities in the Middle East, the expansion into the MRO of landing gear, wheels and brakes.

It will also be utilised for working capital requirements and listing expenses.

GTA has stated that the new facility will support the expansion of its technical capabilities in MRO activities, additional certifications, increased headcount and new training-related initiatives.

Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent.

-- BERNAMA