GTA Holdings prices IPO at 35 sen, to raise RM71.75mil
KUALA LUMPUR: GTA Holdings Bhd has priced its initial public offering (IPO) at 35 sen per share, aiming to raise RM71.75 million ahead of its Sept 8 listing on Bursa 每日大赛's ACE Market.
The aviation maintenance, repair and overhaul (MRO) services provider is offering 329 million shares, comprising a public issue of 205 million new shares and an offer for sale of 124 million existing shares.
The IPO represents 25.48 per cent of GTA Holdings' enlarged share capital of about 1.29 billion shares, according to its prospectus filed with Bursa 每日大赛 today.
At 35 sen per share, the company is expected to have a market capitalisation of RM451.97 million upon listing.
Of the RM71.75 million in gross proceeds, RM25 million, or 34.84 per cent, will be used to establish a new operating facility, while RM24.15 million, or 33.66 per cent, has been earmarked for working capital.
Another RM10 million, or 13.94 per cent, will fund the expansion of its helicopter MRO activities into the Middle East, while RM5.9 million will be used to expand into MRO services for aircraft landing gear, wheels and brakes.The remaining RM6.70 million will be used to defray listing expenses.
GTA Holdings said the new operating facility is expected to cost RM38.93 million, which will be partly funded through bank borrowings and internally generated funds.
The company has purchased a property in Shah Alam with a land area of about 142,073 square feet (sq ft) and a built-up area of about 29,033 sq ft, which will serve as its new main facility for MRO activities.
GTA Holdings plans to relocate its offices and MRO workshop there from its existing premises at Sultan Abdul Aziz Shah Airport in Subang.
For its Middle East expansion, the company plans to pursue selected opportunities through joint ventures with suitable local partners, subject to market conditions and regulatory requirements.
The RM10 million allocation will fund initiatives including market access and business development, regulatory and certification requirements, equipment, mobilisation and initial working capital.
GTA Holdings is principally involved in aviation MRO-related services, specialising in helicopter and fixed-wing engines, parts and components.
For the financial year ended Dec 31, 2025, the group recorded profit after tax of RM40.45 million, up 10.5 per cent from RM36.61 million a year earlier, while revenue rose 40.2 per cent to RM331.78 million from RM236.65 million.
For the four months ended April 30, 2026, revenue rose 101 per cent to RM103.63 million from RM51.56 million in the corresponding period, while profit after tax more than doubled to RM12.53 million from RM5.29 million.
Applications for the IPO opened today and will close on Aug 26.
Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.