Gta holdings bhd:TA Holdings Bhd, an aircraft engine maintenance, repair and overhaul (MRO) services provider, aims to raise RM71.75 million from its initial public offering (IPO). The company is slated for listing on the ACE Market of Bursa Malaysia on Sept 8, 2026.

According to BERNAMA News Agency, the IPO will support several strategic initiatives designed to strengthen the company's long-term operating platform. Its managing director and chief executive officer, Datuk Nonee Ashirin Mohd Radzi, outlined that the proceeds will be used for establishing a new operating facility, expanding helicopter MRO services into West Asia, and enhancing MRO capabilities for landing gears, wheels, and brakes. Additionally, the funds will support working capital requirements and listing expenses.

The prospectus indicates that RM25 million, or 34.84%, will be allocated to establish a new operating facility, while RM10 million, or 13.94%, is designated for expanding helicopter MRO activities in West Asia. Another RM5.90 million will be directed towards expanding MRO services for landing gear, wheels, and brakes.

The remaining RM24.15 million, representing 33.66%, will be used for general working capital requirements, and RM6.70 million, or 9.34%, will cover listing expenses. The IPO involves the issuance of 329 million shares in GTA, comprising a public issue of 205 million new ordinary shares and 124 million existing shares at an issue price of 35 sen per share.

With an enlarged share capital of 1.29 billion shares, GTA's total market capitalisation upon listing is expected to approximate RM451.97 million. The application for the retail offering opens today and will close at 5 pm on Aug 26, 2026.

Hong Leong Investment Bank Bhd serves as the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO.