PETALING JAYA: Power engineering solutions provider, EI Power Bhd (EIP) has launched its prospectus in conjunction with its initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia.

In a statement, the Shah Alam-based company said the IPO exercise entails a public issue of 129.5 million new ordinary shares, representing 18.5% of its enlarged share capital, as well as an offer for sale of 70 million existing shares, accounting for 10% of its enlarged share capital.