Pan Merchant gets Bursa nod for ACE Market IPO, eyes Q2 debut
New Straits Times - 14 April 2025 View original article
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KUALA LUMPUR: Solid-liquid filtration solutions provider, Pan Merchant Bhd, has secured approval from Bursa Malaysia for its proposed initial public offering (IPO) on the ACE Market.
The company aims to list in the second quarter of this year.
Managing director Wong Voon Ten said the company has grown from a small business into a competitive global player over the past 30 years, with over 80 per cent of its products exported to international markets.
"Going public is a pivotal step that will empower us to expand our capabilities and better serve the evolving needs of the filtration industry and other end-user industries.
"With enhanced resources post-listing, we are poised for greater innovation through product development activities and broader global reach through our strategic expansion plan, thus delivering stronger value creation for our stakeholders," he said.
Pan Merchant provides filtration solutions for industries such as edible oil refining, sustainable fuel production, food processing and water treatment.
Its operations cover Malaysia, Singapore, the Netherlands and the United States, with three manufacturing facilities spanning 10 acres in Ipoh, Perak.
Wong said the company plans to meet rising global demand for solid-liquid filtration solutions, a market that grew from RM12 billion in 2019 to RM21.9 billion in 2023.
Pan Merchant's clients include plant design and engineering firms such as Desmet Malaysia Sdn Bhd, Lipico Technologies Pte Ltd, Alfa Laval Malaysia Sdn Bhd, and Oiltek Sdn Bhd.
Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.
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