Oiltek submits application for secondary listing on Bursa Malaysia’s main market - The Business Times
[SINGAPORE] Oiltek International submitted an application to the Securities Commission Malaysia on Friday (Sep 25) for its proposed secondary listing on Bursa Malaysia’s main market.
This is intended to be undertaken together with a public offering in Malaysia, comprising a public issue of new shares in the company.
Such a public offering would consist of two parts: shares open for public application in Malaysia, and shares allocated to Ministry of Investment, Trade and Industry (Miti)-approved Bumiputera investors via a private placement.
This offer is in addition to a private placement of existing shares to Miti-approved Bumiputera investors.
The final structure, size and issue/offer price of the proposed offering will be determined at a later date and “announced in due course”, Oiltek said on Monday.
The offering remains subject to the approvals of Bursa Securities, Bank Negara Malaysia and Malaysia’s Securities Commission, among other relevant authorities.
Upon receipt of the relevant approval, the group will convene an extraordinary general meeting to seek the approval of its shareholders regarding a proposed bonus issue of shares, and amendments to Oiltek’s existing company constitution.
“Further details on the proposed bonus issue will be disclosed... at a later date,” the company said.
The company had proposed a secondary listing on the Bursa Malaysia’s main market on Jul 21, 2025, to access different regional equity markets to raise funds.
Oiltek’s shares will continue to be listed and quoted on the mainboard of the Singapore Exchange (SGX), which will remain the group’s primary stock exchange.
It first listed on the Catalist board of SGX on Mar 3, 2022, before transferring to the mainboard on Jun 6, 2025.
The counter ended 1.6 per cent or S$0.02 higher at S$1.25 on Friday.
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