Unigel Global plans ACE Market IPO with 110 million new shares
The fibre optic materials provider intends to use IPO funds for a factory, a gel production line, an AI-enabled system and a Malaysian technical centre.
Unigel Global Bhd plans to issue 110 million new ordinary shares through an initial public offering as it seeks admission to Bursa Malaysia’s ACE Market, according to its draft prospectus.
The company supplies protective materials for fibre optics, with steel tapes and thixotropic gel as its specialities. M & A Securities Sdn Bhd is sponsoring the proposed IPO.
Unigel said the main uses of the proceeds would include buying an existing factory for a new Malaysian plant and adding a domestic production line for power infrastructure gel.
It also intends to fund an enterprise resource planning system enabled by artificial intelligence and establish a technical centre in Malaysia.
The company plans an integrated site in Selangor that would bring together manufacturing facilities and a regional corporate office.
