KUALA LUMPUR: Two more companies have filed for initial public offerings (IPO) on the ACE Market of Bursa Malaysia.
This brings the number of draft prospectus filings in July to seven companies.
An electrical engineering service firm, CBH Engineering Holding Bhd in its draft prospectus today has proposed a public issue of 298 million new shares and an offer-for-sale of 188.09 million existing shares, offering investors up to 26 per cent shares in the company.
Under the public issue, CBH will allocate 94.05 million new shares to the Malaysian public and 28.4 million shares to eligible persons.
It will also allocate 47.02 million new shares to Bumiputera investors and 128.52 million shares to select investors through private placement.
CBH specialises in electricity supply distribution systems.
The company designs, installs and maintains low- to high-voltage electrical systems.
The company also provides mechanical engineering works for building systems, and installing systems such as fire protection, plumbing, and renewable energy.
The company said it currently has 13 existing contracts with a total unbilled order book of RM207.04 million comprising mechanical and electrical engineering works.
"As part of our plans, we intend to increase our market presence by tendering for projects with higher contract value," it said.
CBH added that it had submitted six tenders amounting RM496.09 million, which are still pending evaluation from the potential contract awardees.
Meanwhile, the company looking to list on the ACE Market is Colform Group Bhd, which is principally involved in the manufacturing, processing and trading of steel products, as well as trading of building materials.
The Sabah-based company also provide supply and installation services including industrialised building system (IBS) steel framing systems as well as project management services for construction projects.
Colform proposed a public issue of 114.4 million new shares and an offer-for-sale of 54 million existing shares, offering investors up to 28 per cent shares in the company.
Under the public issue, the company will allocate 30 million new shares to the Malaysian public and 6 million shares to eligible persons.
It will also allocate 75 million new shares to Bumiputera investors and 3.4 million shares to select investors through private placement.
The company said the listing proceeds will be used to set up a colour coil coating production line and construction of a storage facility at its factory in Kota Kinabalu.
It also aims to expand to Peninsular Malaysia, particularly in the Klang Area, where it will set up a factory mainly for the manufacturing of downstream steel products including amongst others roofing sheets, purlins and battens and industrial building system steel framing systems as well as to store their trading products.