PIONEER Pioneer Heat Holdings Berhad
Key figures
- IPO price
- RM 0.25
- Day 1 open
- RM 0.255
- Day 1 close
- RM 0.30
- Current price
- RM 0.365
- Day 1 open %
- +2.0%
- Day 1 close %
- +20.0%
- Since listing
- +46.0%
- Oversubscription
- 47.80x
- Market cap
- RM 86.7 M
- Float
- 29.99%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % |
|---|---|---|
| Malaysian Public | 17.345 M | 5% |
| Pink Form Allocations | 10.407 M | 3% |
Source: company prospectus, PDF page 25.
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are a mechanical engineering service provider, with core expertise in piping system engineering and related specialised services such as heat treatment services, flange management and NDT services. Our mechanical engineering services primarily serves th e oil and gas, petrochemical, utility and manufacturing industries.
Source: company prospectus, PDF page 26.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| New Sendayan HQ | 4,000 | 18.5% |
| New Sarawak Office | 2,069 | 9.5% |
| Purchase of machinery and equipment | 4,005 | 18.5% |
| Working capital | 7,901 | 36.4% |
| Estimated listing expenses | 3,700 | 17.1% |
Source: company prospectus, PDF page 48.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2023 | 16,035 | 1,264 | 7.88% | 0.36 |
| FY2024 | 31,468 | 3,025 | 9.61% | 0.87 |
| FY2025 | 42,966 | 4,730 | 11.01% | 1.36 |
| FY2026 | 97,661 | 8,214 | 8.41% | 2.37 |
Latest-FY revenue growth: +127.30%. PE at the IPO price: 10.55. Source: company prospectus (verified excerpts), PDF page 223, 224.
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 +20.0% sits at P58 of its board · This IPO's since-listing of +46.0% sits at P71 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| MNHLDG | 28 Apr 2022 | RM 0.21 | +11.9% | +623.8% | RM 85.8 M |
| BUSCAP | 03 Jun 2026 | RM 0.23 | +37.0% | +369.6% | RM 88.2 M |
| AGMO | 18 Aug 2022 | RM 0.26 | +201.9% | +36.5% | RM 84.5 M |
| ACO | 18 Mar 2020 | RM 0.28 | -42.9% | -30.4% | RM 84.0 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 |
Audit
No audit published for this IPO.