KEEMING Kee Ming Group
Key figures
- IPO price
- RM 0.38
- Day 1 open
- RM 0.79
- Day 1 close
- RM 0.87
- Current price
- RM 2.52
- Day 1 open %
- +107.9%
- Day 1 close %
- +129.0%
- Since listing
- +563.2%
- Oversubscription
- 54.16x
- Market cap
- RM 123.5 M
- Offer size
- 82.87 M
- Enlarged shares
- 325 M
- Float
- 25.5%
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) | 16.25 M | 19.6% |
| Bumiputera / MITI | 40.62 M | 49.0% |
| Private placement | 17.875 M | 21.6% |
| New shares issued | 66.62 M | 80.4% |
| Offer for sale | 16.25 M | 19.6% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are an investment holding company, while our subsidiary, namely Kee Ming Electrical is principally involved in the following business activities: (i) provision of M&E engineering services; and (ii) provision of maintenance and repair services. We have approximately 13 years of operating history in the M&E engineering services market in Malaysia since commencing business operations in 2013.
Source: company prospectus, PDF page 37.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Project working capital for future projects | 13,000 | 51.3% |
| Performance bond for future projects | 4,000 | 15.8% |
| Expansion of project team | 1,720 | 6.8% |
| Purchase of ERP system | 1,000 | 3.9% |
| General working capital | 598 | 2.4% |
| Defray fees and expenses relating to our Listing | 5,000 | 19.8% |
Source: company prospectus, PDF page 54.
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 +129.0% sits at P93 of its board · This IPO's since-listing of +563.2% sits at P99 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| HEGROUP | 30 Jan 2024 | RM 0.28 | +16.1% | +10.7% | RM 123.2 M |
| ELSA | 16 Jun 2026 | RM 0.23 | +19.6% | -8.7% | RM 123.8 M |
| PENTECH | 15 Jun 2026 | RM 0.20 | +30.0% | +70.0% | RM 124.0 M |
| SBS | 20 Jan 2026 | RM 0.25 | -4.0% | -54.0% | RM 122.5 M |
| MMCS | 11 Jun 2026 | RM 0.22 | +2.3% | +54.5% | RM 124.7 M |
| TOPMIX | 23 Apr 2024 | RM 0.31 | +35.5% | +48.4% | RM 122.1 M |
| MSB | 15 Apr 2025 | RM 0.20 | -15.0% | -57.5% | RM 122.0 M |
| SUM | 18 Jun 2026 | RM 0.28 | +87.5% | +171.4% | RM 126.0 M |
Audit
No audit published for this IPO.