PETALING JAYA: Pan Merchant Bhd, a home-grown engineering company involved in design and manufacture of filtration solutions, has obtained approval from Bursa Malaysia Securities for its proposed initial public offering (IPO) on the ACE Market.
Pan Merchant, which commenced operations in 1987, is Malaysia’s largest solid-liquid filtration solutions provider in terms of revenue.
The group has established a strong international presence, with over 80% of its products exported to Asia, Europe, America and Africa. It operates offices in Malaysia, Singapore, the Netherlands and the United States, along with three manufacturing facilities in Ipoh, Perak. The facilities sit on about 10 acres of land and are equipped with a wide suite of production capabilities to meet growing demand in the global solid-liquid filtration market, which expanded from RM12 billion in 2019 to RM21.9 billion in 2023.
Managing director Wong Voon Ten said: “Over the past three decades, we have grown from a small company into a global player, competing on the international stage in the solid-liquid filtration solutions industry. 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.”
The group’s filtration solutions are highly reputed among all major industry players across various end-user sectors, such as edible oil refining, sustainable fuel production, food processing, and potable and wastewater industry.
Barring any unforeseen circumstances, Pan Merchant aims to be listed in the second quarter of the year. Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent, and sole underwriter for the IPO.
