KUALA LUMPUR (Aug 26): Telecommunications infrastructure company OCK Group Bhd (KL:OCK) said it intends to list its 52%-owned energy solutions unit, EI Power Technologies Sdn Bhd (EIPT), on the ACE Market of Bursa Malaysia.

In a bourse filing on Tuesday, OCK said that the proposed listing will be done through a new company, EI Power Bhd (EIP), which will take over as the parent firm of EIPT and its two subsidiaries — EI Power Nexus Sdn Bhd and EI Power (Thailand) Co Ltd.

The company has appointed M&A Securities Sdn Bhd as the adviser and sponsor for the proposed flotation exercise.

“Details of the proposed listing have yet to be finalised at this juncture as the proposed listing is still in the preliminary stage and preparatory work is still ongoing,” OCK said.

OCK noted the proposed listing is subject to approvals from Bursa Malaysia Securities Bhd, other relevant regulators and the company’s shareholders.

The group added that a detailed announcement will be made to the exchange once the details have been finalised, without disclosing any listing timeframe.

In August last year, EIPT secured three contracts worth RM32.5 million for the supply and installation of backup power infrastructure for data centres.

OCK, however, did not disclose the names of the clients or data centre operators involved.

Shares in OCK settled down half a sen or 1.23% to 40 sen on Tuesday, valuing the group at RM423.72 million.