KUALA LUMPUR (April 10): Computer infrastructure firm Pentech Holdings Bhd has signed an agreement with Public Investment Bank Bhd to underwrite its initial public offering (IPO) on the ACE Market.

Under the deal, Public Investment Bank will underwrite shares allocated to the Malaysian public and the “pink form” tranche for eligible persons, amounting to about 62 million shares or 10% of Pentech’s enlarged share capital.

Managing director and chief executive officer Yeoh Chin Ming said the agreement reflects confidence in the company and marks a key step towards its listing. “This comes at an opportune time as we are ready to take advantage of the vast development opportunities in Malaysia’s ICT industry,” he noted.

Based in Penang, Pentech integrates enterprise ICT infrastructure, supplies hardware and software, and provides cloud and related services.

More than half of its revenue last year was derived from systems integration for enterprise data centres, network infrastructure, and security systems. The company posted a net profit of just under RM10 million on revenue of RM188.94 million for the financial year ended Dec 31, 2024 (FY2024).

Post-listing, Yeoh will jointly control 60% of Pentech through Evernorth Capital Sdn Bhd together with current chief sales officer Ho Huang Ken, and business development director Toh Say Yee.

Public Investment Bank is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.

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