KUALA LUMPUR: Pestech International Bhd has submitted a proposal to list shares of a subsidiary in Cambodia and is considering to return part of the proceeds to shareholders as special dividend. The unit, Pestech Cambodia Ltd (PCL) will undertake an initial public offer of 39 million shares to raise US$20.3mil (RM82.3mil). The proposal for the listing was submitted to Securities and Exchange Commission of Cambodia and the Cambodia Securities Exchange by RHB Indochina Securities Plc today. PCL will issue 29 million new shares, while Pestech told Bursa malaysia today that it will put an offer for sale of 10 million shares. Pestech on Tuesday said PCL had secured its third contract this year for transmission line and substation work from Schnietec in Cambodia.

Source: The Star December 22, 2017 12:00 UTC