GTA Holdings Berhad received strong investor demand for its initial public offering, with the Malaysian public portion oversubscribed 22.16 times. The aviation maintenance, repair and overhaul (MRO) specialist is scheduled to list on the ACE Market of Bursa Malaysia Securities Berhad on September 8, 2026.

The IPO comprised 329.0 million ordinary shares, split between a public issue of 205.0 million new shares and an offer for sale of 124.0 million existing shares. The total application value from the Malaysian public reached approximately RM523.35 million, reflecting robust interest in the company’s specialized aerospace services.

Subscription Breakdown

The retail offering attracted 13,797 applications for 1,495,291,500 issue shares. Demand varied significantly between investor categories:

• Bumiputera portion: Oversubscribed 29.14 times with 8,450 applications for 972,948,700 shares.
• Non-Bumiputera portion: Oversubscribed 15.18 times with 5,347 applications for 522,342,800 shares.

Institutional and Employee Allocation

Hong Leong Investment Bank Berhad (HLIB), acting as Sole Placement Agent, confirmed that all 251,519,100 institutional shares have been fully placed. This tranche included 127,519,100 new issue shares and 124,000,000 existing shares allocated to institutional and selected investors.

Additionally, the 12,913,500 shares reserved for eligible directors and employees under the Pink Form Allocation were fully subscribed.

Strategic Outlook

Dato' Nonee Ashirin binti Dato' Mohd Radzi, Managing Director and CEO of GTA Holdings Berhad, stated that the response reflects confidence in the company’s technical capabilities and long-term growth strategy. The company plans to use the proceeds to establish a new operating facility, expand aviation support capabilities, and pursue regional opportunities.

Ms. Lee Jim Leng, Group Managing Director/CEO of Hong Leong Investment Bank Berhad, noted that the positive response highlights the market’s recognition of GTA’s specialized position within Malaysia’s aviation support industry.

GTA Holdings Berhas launched its prospectus for an initial public offering on the ACE Market of Bursa Malaysia Securities Berhad, aiming to raise RM71.75 million through the issuance of 205,000,000 new shares at an IPO price of RM0.35 per share. The offering also includes an offer for sale of 124,000,000 existing shares by selling shareholders, with proceeds from the public issue accruing entirely to the company.

The aviation maintenance, repair and overhaul (MRO) specialist plans to deploy the capital toward establishing a new operating facility, expanding helicopter MRO activities in the Middle East, and broadening its service offerings into landing gear, wheels and brakes for fixed-wing aircraft.

Financial Performance

Financially, GTA recorded revenue of RM331.78 million in FY25, representing an increase of 40.20% from RM236.65 million in FY24. This growth was driven by higher sales of aviation equipment and stronger corrective maintenance activity. The company operates from the Helicopter Centre at Sultan Abdul Aziz Shah Airport in Subang, serving regulated and mission-critical segments including aviation operators and defence-linked end markets.

Proceeds Allocation

The gross proceeds from the public issue will be allocated as follows:

The total estimated cost of the new operating facility is RM38.93 million, comprising RM32.93 million for property purchase and RM6.00 million for civil, structural, mechanical and electrical works, furniture and fit-out works.

What the Numbers Show

The allocation of proceeds reveals a strategic pivot from pure service provision to asset-heavy infrastructure development. With RM25.00 million designated for debt repayment related to a new facility and RM5.90 million for expanding into landing gear MRO, nearly half of the raised capital targets fixed capabilities rather than immediate liquidity. This contrasts with the RM24.15 million reserved for general working capital, suggesting management intends to lock in long-term capacity ahead of potential demand growth in the Middle East and adjacent MRO segments.

Hong Leong Investment Bank Berhad serves as the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for the IPO. Dato' Nonee Ashirin binti Dato' Mohd Radzi, Managing Director and Chief Executive Officer of GTA Holdings Berhad, stated that the initiatives align with strengthening the company's position within the aviation maintenance ecosystem while supporting Malaysia's aerospace industry development.