BUSCAP Bus Cap Berhad
Key figures
- IPO price
- RM 0.23
- Day 1 open
- RM 0.26
- Day 1 close
- RM 0.315
- Current price
- RM 1.08
- Day 1 open %
- +13.0%
- Day 1 close %
- +37.0%
- Since listing
- +369.6%
- Oversubscription
- 72.24x
- Market cap
- RM 88.2 M
- Float
- 33%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % |
|---|---|---|
| Malaysian Public (via balloting) - Bumiputera | 9.5846 M | 2.5% |
| Eligible Persons | 11.5015 M | 3% |
| Selected Investors (via private placement) | 76.6765 M | 20% |
| Offer for Sale Selected Investors (via private placement) | 19.1692 M | 5% |
Source: company prospectus, PDF page 27.
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
As a bus builder, our Group is principally involved in the design and manufacturing of bus bodies, assembly of bus bodies with chassis sourced from chassis principals/dealers, as well as the sourcing and installation of fittings and accessories to form CBU buses. Further, we also provide bus repair and maintenance services.
Source: company prospectus, PDF page 107.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Construction of New Factory | 9,100 | 36.9% |
| Purchase of new machines | 5,034 | 20.4% |
| Working capital | 6,156 | 24.9% |
| Estimated listing expenses | 4,400 | 17.8% |
Source: company prospectus, PDF page 46.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2022 | 15,624 | 427 | 2.73% | 0.11 |
| FY2023 | 27,622 | 2,725 | 9.87% | 0.71 |
| FY2024 | 56,446 | 6,900 | 12.22% | 1.80 |
| FY2025 | 88,083 | 9,806 | 11.13% | 2.56 |
Latest-FY revenue growth: +56.05%. PE at the IPO price: 8.98. Source: company prospectus (verified excerpts), PDF page 35.
Board context: ACE
Across 217 ACE IPOs in the database: median day-1 close +13.5% (P25 +0.0%, P75 +45.7%), median since-listing -8.0%. 71.0% closed day 1 above their IPO price.
This IPO's day-1 close of +37.0% sits at P70 of its board · This IPO's since-listing of +369.6% sits at P95 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| PIONEER | 17 Sep 2026 | RM 0.25 | +20.0% | +46.0% | RM 86.7 M |
| COSMOS [NS] | 06 Oct 2022 | RM 0.35 | +60.0% | -17.1% | RM 89.8 M |
| HSSBAKERY | 23 Jun 2026 | RM 0.18 | +0.0% | -27.8% | RM 90.0 M |
| MINOX | 17 Oct 2023 | RM 0.25 | +48.0% | -28.6% | RM 90.0 M |
| SEMICO | 13 Jan 2026 | RM 0.25 | +50.0% | +150.0% | RM 90.0 M |
| MNHLDG | 28 Apr 2022 | RM 0.21 | +11.9% | +623.8% | RM 85.8 M |
| SRKKAI | 09 Jul 2026 | RM 0.32 | +90.6% | +37.5% | RM 90.9 M |
| ASM | 02 Jul 2025 | RM 0.17 | -2.9% | -17.6% | RM 90.9 M |
Audit
No audit published for this IPO.