EI Power Berhad, a power engineering solutions provider, has entered into an underwriting agreement with M&A Securities Sdn Bhd, a subsidiary of M&A Equity Holdings Berhad, as it prepares for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad. This agreement marks a significant step towards the company’s listing, expected in the second quarter of 2026.
The IPO will involve the issuance of 129.5 million new ordinary shares, representing 18.5% of the company’s enlarged share capital, alongside an offer for sale of 70 million existing shares, accounting for 10% of the enlarged share capital. M&A Securities will underwrite 66.5 million of these shares, which will be available to the Malaysian public, eligible directors, employees, and shareholders of OCK Group Berhad.
EI Power Berhad, headquartered in Shah Alam, has a 16-year track record in providing engineering, procurement, construction, and commissioning services for power solutions. The company is recognised as a Class A Electrical Contractor by the Energy Commission Malaysia and a Grade G7 Contractor by the Construction Industry Development Board, allowing it to undertake projects of any contract value.
Executive Director and CEO Albert Chang Wan Siong stated, “The signing of this underwriting agreement with M&A Securities marks a key milestone as we progress towards our upcoming listing on the ACE Market of Bursa Securities.” The proceeds from the IPO will support the company’s strategic initiatives, including expanding operations and extending its geographic footprint into Thailand.
The growth of power-intensive facilities in Malaysia, driven by the relocation of multinational semiconductor and electronics manufacturers, is expected to increase demand for EI Power Berhad’s solutions.
