Aircraft repair firm GTA Holdings eyes ACE Market listing
KUALA LUMPUR (March 9): GTA Holdings Bhd, an aircraft repair firm, is preparing to list on the ACE Market of Bursa ÿÈÕ´óÈü to fund its expansion plans.
Proceeds from its initial public offering (IPO) have been earmarked for setup of a new operating facility, expand its services on helicopters in the Middle East, and widen its capabilities into landing gears, wheels and brakes, according to GTA’s draft prospectus filed on the bourse.
The total estimated cost for the new facility is RM37.5 million, including acquisition of the property and fit-out works, GTA Holdings said, noting that the sale-and-purchase agreement for the premises has been in September 2025.
Based in Selangor, GTA Holdings mainly provides maintenance, repair and overhaul — services mostly known as MRO in the aviation industry — for both helicopters and fixed-wing engines. The company also sells aviation equipment, including new engines, engine modules and parts.
GTA Holdings currently operates out of Helicopter Centre, Lapangan Terbang Sultan Abdul Aziz Shah in Subang. The company has until the end of 2026 to relocate out of the current premises due to redevelopment in the area.
Earnings, meanwhile, have been on an uptrend in recent years with profit after tax surging to RM36.61 million in 2024 from RM13.7 million in 2022. The company serves ÿÈÕ´óÈün defence organisations and civil aviation companies.
The proposed IPO will comprise a public issuance of 15.87% stake in GTA Holdings, coupled with an offer for sale of 9.6% by managing director and CEO Datuk Nonee Ashirin Mohd Radzi, executive director Syed Abdul Rahman Syed Ali Alhadad, Ludev Capital Ltd and Brands Connect Asia Sdn Bhd.
Ludev Capital is owned by GTA non-executive director Philippe Raymond Lubrano-Lavadera, while Brands Connect is owned by Nonee Ashirin and Global Systemes Asia Sdn Bhd, which is in turn owned by her daughters, Nur Sarah Ashirin Mohd Haslizan and Nur Sofea Jasmine Mohd Haslizan.
Hong Leong Investment Bank is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.