COLFORM
Key figures
- IPO price
- RM 0.36
- Day 1 open
- RM 0.40
- Day 1 close
- RM 0.39
- Current price
- RM 0.295
- Day 1 open %
- +11.1%
- Day 1 close %
- +8.3%
- Since listing
- -18.1%
- Oversubscription
- 41.82x
- Market cap
- RM 216.0 M
- Offer size
- 168.42 M
- Enlarged shares
- 600 M
- Float
- 28.07%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % of offer |
|---|---|---|
| Malaysian public (balloting) | 30 M | 17.8% |
| Bumiputera / MITI | 75 M | 44.5% |
| Private placement | 57.424 M | 34.1% |
| New shares issued | 114.42 M | 67.9% |
| Offer for sale | 54 M | 32.1% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
Our Group is a steel and building materials specialist, principally involved in the manufacturing, processing and trading of steel products, as well as trading of building materials. We also provide supply and installation services using our steel products including IBS steel framing systems as well as project management services for construction projects.
Source: company prospectus, PDF page 103.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Setting up colour coil coating production line | 9,000 | 21.8% |
| Construction of a storage facility | 4,500 | 10.9% |
| Business expansion to Peninsular Malaysia | 5,100 | 12.4% |
| Working capital | 18,093 | 43.9% |
| Estimated listing expenses | 4,500 | 10.9% |
Source: company prospectus, PDF page 43.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FPE2023 | 54,971 | 7,105 | 12.92% | 1.18 |
| FPE2024 | 68,987 | 12,083 | 17.51% | 2.01 |
| FY2021 | 85,456 | 13,836 | 16.19% | 2.31 |
| FY2022 | 62,641 | 5,770 | 9.21% | 0.96 |
| FY2023 | 92,533 | 12,358 | 13.36% | 2.06 |
Latest-FY revenue growth: +47.72%. PE at the IPO price: 17.48. Source: company prospectus (verified excerpts), PDF page 262, 263.
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 +8.3% sits at P44 of its board · This IPO's since-listing of -18.1% sits at P35 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| SYNERGY | 01 Jun 2023 | RM 0.43 | -18.6% | -27.9% | RM 215.0 M |
| GDB | 27 Mar 2018 | RM 0.35 | -7.1% | +61.7% | RM 218.8 M |
| PLYTEC | 15 Nov 2023 | RM 0.35 | -7.1% | -58.6% | RM 212.1 M |
| A1AKK | 11 Jul 2025 | RM 0.25 | -2.0% | -8.0% | RM 210.0 M |
| SUNLOGY | 20 Feb 2025 | RM 0.30 | +0.0% | -13.3% | RM 210.0 M |
| MERSEC [NS] | 19 Sep 2023 | RM 0.25 | +20.0% | +26.0% | RM 223.2 M |
| EPB | 23 Aug 2024 | RM 0.56 | +10.7% | -28.6% | RM 208.3 M |
| TEAMSTR | 25 Feb 2026 | RM 0.26 | -9.6% | -13.5% | RM 208.0 M |
Audit
No audit published for this IPO.