KUALA LUMPUR (July 1): Leapco Holdings Bhd, which specialises in electrical distribution equipment, is seeking to raise funds from the ACE Market for expansion and operations.

On its shopping list are a laser cutting machine and other equipment for its Batu Kawan factory as well as computer hardware and software upgrades, according to its draft prospectus. The Penang-based company is also seeking to set up offices in Klang Valley and other locations in Malaysia.

“Being in closer proximity to potential customers will enhance our competitiveness to capture new business opportunities to drive the continued growth of our business,” Leapco said.

Leapco manufactures low-voltage switchboard and medium-voltage switchgears that dispense electricity to other distribution equipment before reaching the end-user.

The company caters to contractors that serve various industries, including data centres, semiconductors, medical devices and electronics, as well as owners of factories, plants, or buildings. In 2025, Leapco made a net profit of RM13 million on revenue of RM67 million.

Proceeds from the proposed initial public offering (IPO) will also be used to repay bank borrowings, fund working capital, and cover listing expenses. The IPO also comes with an accompanying offer for sale of existing shares.

A group of five shareholders — executive deputy chairman Goh Swee Heh, his son and chief operating officer Goh Hun Meng, executive director Choy Loo Fan, CEO Choy Kam Huei, and chief business officer Lim Chin Kian — are cashing out part of their stake in Leapco.

The elder Goh, who has five decades of industry experience, is also the uncle of Lim while the Choys are siblings. All in all, the IPO will offer investors up to 30% in the company.

UOB Kay Hian is the principal adviser, sponsor, underwriter and placement agent for the IPO.