GENERGY Wasco Greenergy
Key figures
- IPO price
- RM 1.00
- Day 1 open
- RM 0.95
- Day 1 close
- RM 0.88
- Current price
- RM 0.84
- Day 1 open %
- -5.0%
- Day 1 close %
- -12.0%
- Since listing
- -16.0%
- Oversubscription
- 12.11x
- Market cap
- RM 500.0 M
- Offer size
- 150 M
- Enlarged shares
- 500 M
- Float
- 30%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % |
|---|---|---|
| Our Directors | 0.4 M | 0.08% |
| Eligible employees of our Group | 1.97 M | 0.39% |
| Directors of Wasco Berhad | 0.4 M | 0.08% |
| Eligible employees of the Wasco Berhad Group | 2.23 M | 0.45% |
| Entitled Shareholders of Wasco Berhad | 15.5 M | 3.1% |
| Bumiputera | 5 M | 1% |
| Non-Bumiputera | 5 M | 1% |
| Sub-total | 30.5 M | 6.1% |
| Bumiputera investors approved by the MITI | 44.5 M | 8.9% |
| Bumiputera investors approved by the MITI | 18 M | 3.6% |
| Bumiputera investors approved by the MITI | 62.5 M | 12.5% |
| Other Malaysian institutional and selected investors | 57 M | 11.4% |
| Sub-total | 119.5 M | 23.9% |
| Total | 75 M | 15% |
| Total | 150 M | 30% |
Source: company prospectus, PDF page 45.
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We operate in the renewable energy sector as a provider of renewable energy systems that support companies in meeting their energy needs, including those seeking to achieve their decarbonisation and net-zero emissions targets. Our core business segment comprises the EPCC of steam energy systems and auxiliary facilities, the supply of steam turbine generator systems, as well as the provision of after-sales services for these systems.
Source: company prospectus, PDF page 99.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| (ii) Expansion of our operations in Indonesia | 5,500 | 7.3% |
| Research and development | 4,000 | 5.3% |
| Estimated listing expenses | 9,800 | 13.1% |
Source: company prospectus, PDF page 38.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FPE2025 | 126,159 | 6,679 | 5.29% | 1.77 |
| FY2022 | 266,565 | 22,333 | 8.38% | 5.91 |
| FY2023 | 288,844 | 29,781 | 10.31% | 7.88 |
| FY2024 | 276,715 | 34,308 | 12.40% | 9.08 |
Latest-FY revenue growth: -4.20%. PE at the IPO price: 11.01. Source: company prospectus (verified excerpts), PDF page 88.
Board context: MAIN
Across 57 MAIN IPOs in the database: median day-1 close +3.9% (P25 -2.2%, P75 +27.6%), median since-listing +0.0%. 61.4% closed day 1 above their IPO price.
This IPO's day-1 close of -12.0% sits at P9 of its board · This IPO's since-listing of -16.0% sits at P40 of its board
Board peers: MAIN
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| ATECH | 16 Dec 2021 | RM 1.36 | +25.0% | +70.0% | RM 487.1 M |
| REACHTEN | 02 May 2025 | RM 0.52 | +3.9% | -5.8% | RM 520.0 M |
| INNATURE [NS] | 20 Feb 2020 | RM 0.64 | +2.3% | -71.8% | RM 451.8 M |
| AME | 14 Oct 2019 | RM 1.30 | +19.2% | +79.2% | RM 555.2 M |
| MEGAFB [NS] | 11 Nov 2024 | RM 0.67 | -2.2% | +18.7% | RM 566.1 M |
| PGLOBAL | 03 Mar 2025 | RM 0.68 | -15.4% | -34.6% | RM 578.0 M |
| AMEREIT | 20 Sep 2022 | RM 1.13 | +2.6% | +44.2% | RM 587.6 M |
| HI | 28 Mar 2025 | RM 1.22 | +9.0% | +101.6% | RM 610.0 M |
Audit
No audit published for this IPO.