KUALA LUMPUR: Integrated engineering solutions provider, Oxford Innotech Bhd (OXB), has entered into an underwriting agreement with Malacca Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia Securities Bhd.
OXB, through its subsidiaries, offers integrated engineering solutions with its specialty in precision engineering components solutions, mechanical assembly solutions, as well as automation and robotic solutions.
Headquartered in Penang, the group operates four manufacturing facilities located in Penang and Kedah.
It serves key sectors such as semiconductor, electrical and electronics (E&E), automotive, and modular building systems.
The IPO exercise encompasses a public issue of 143.5 million new ordinary shares, representing 20.2% of its enlarged issued share capital, as well as an offer for sale of 50 million existing shares, representing 7% of the enlarged share capital.
“The signing of the underwriting agreement with Malacca Securities is a significant step towards our upcoming listing on the ACE Market of Bursa Securities,” OXB managing director Ng Thean Gin said.
“It marks a key milestone that supports our long-term growth ambitions and enhances our scalability to meet the evolving demands of the industries we serve.”
He said the group is expanding both its production capacity and capabilities to cater to the rising demand for precision engineering solutions, especially in the semiconductor and modular building systems sectors.
“Leveraging our extensive expertise and tailored engineering capabilities, we are able to deliver high-quality products and services that address the unique needs of our customers, enabling them to remain competitive and agile in a competitive market,” said Ng.
OXB is scheduled to be listed on the ACE Market of Bursa Securities by the 3rd quarter of 2025.
Malacca Securities serves as the principal adviser, sponsor, underwriter and placement agent, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser for the IPO exercise.
