As outlined in its draft prospectus submitted to Bursa Malaysia on July 13, the IPO will involve the issuance of 74.35 million new shares, of which 18.59 million will be made available for public subscription by Malaysian individuals.

Another 3.72 million shares will be reserved for application by eligible directors and employees of the company.

The prospectus further stated that 46.47 million shares will be allocated through private placement to Bumiputera investors who have been granted approval by the investment, trade and industry ministry.

Another 5.58 million shares will be offered via private placement to selected investors.

Critical Holdings anticipates that its share capital will expand to 371.74 million shares following the IPO.

Aside from the offering of new shares to the public, 37.17 million existing shares will be made available for purchase by selected investors through private placement.

Critical Holdings intends to utilise the funds raised from the IPO for various purposes such as acquiring a new regional office, expanding its sales and technical teams, and allocating capital expenditure towards strategic initiatives.

The proceeds will also be used for the group’s working capital and estimated listing expenses, among other things.

Critical Holdings is involved in the design and build, project management, supply, installation, testing, commissioning, maintenance and services support of MEP systems and equipment for critical facilities.

It recorded a profit after tax of RM4.05 million in financial year 2023 (FY2023), 48.7% lower than the RM7.9 million in FY2022.

MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for this IPO.