{
  "id": 17748236,
  "title": "Advance Technologies seals underwriting deal ahead of ACE Market listing",
  "url": "https://urgent.news/2026/11/02/advance-technologies-seals-underwriting-deal-ahead-of-ace-market",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T04:40:28.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/11/1568907/advance-technologies-seals-underwriting-deal-ahead-ace-market"
  },
  "original_language": "en",
  "account": "Advance Technologies Asia Bhd (ATA), a mechanical and electrical engineering solutions provider, has secured an underwriting agreement with Malacca Securities Sdn Bhd prior to its planned listing on the ACE Market of Bursa Malaysia Securities Bhd. The Initial Public Offering (IPO) consists of 103.6 million new shares, accounting for roughly 22.82 per cent of the company's expanded issued share capital, along with an offer to sell 17.4 million existing shares, representing 3.83 per cent.\n\nOut of the new shares, 22.7 million will be available for public application, while 4.54 million are set aside for eligible individuals. The remaining 76.36 million new shares, combined with all 17.4 million shares under the offer for sale, will be allocated to chosen investors. ATA's Managing Director, Ong Keng Yong, emphasized that the underwriting agreement is a crucial milestone for the company's listing, which will facilitate expansion of its project teams and investment in additional project equipment, enabling the firm to manage more projects simultaneously.\n\nThe company intends to develop a customized enterprise resource planning system to optimize and automate its operational workflows. Ong highlighted that ATA is strategically positioning its operations and maintenance (O&M) services to capitalize on the rising demand for long-term maintenance as completed data center facilities transition into their operational phase. This move is expected to build a recurring revenue base alongside ATA's M&E engineering project business. Malacca Securities will serve as the principal adviser, sponsor, underwriter, and placement agent for ATA's IPO.",
  "summary": "KUALA LUMPUR: Advance Technologies Asia Bhd (ATA), a mechanical and electrical (M&E) engineering solutions provider, has signed an underwriting agreement with Malacca Securities Sdn Bhd ahead of its planned listing on the ACE Market of Bursa Malaysia Securities Bhd.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}