POWER
Key figures
- IPO price
- RM 0.35
- Day 1 open
- RM 0.40
- Day 1 close
- RM 0.33
- Current price
- RM 0.225
- Day 1 open %
- +14.3%
- Day 1 close %
- -5.7%
- Since listing
- -35.7%
- Oversubscription
- 46.35x
- Market cap
- RM 108.6 M
- Offer size
- 84 M
- Enlarged shares
- 310.34 M
- Float
- 27.07%
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) | 15.6 M | 18.6% |
| Bumiputera / MITI | 38.8 M | 46.2% |
| Private placement | 19.6 M | 23.3% |
| New shares issued | 63 M | 75.0% |
| Offer for sale | 21 M | 25.0% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are specialists in lifting systems, providing comprehensive services that include engineering design, fabrication, assembly, installation, and commissioning. We customise our systems to meet specific operational requirements and safety standards.
Source: company prospectus, PDF page 116.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Set up new product showrooms and sales offices with storage space and marketing expenses | 4,500 | 20.4% |
| Capital expenditure mainly for automated machines | 3,800 | 17.2% |
| Repayment of bank borrowings | 2,800 | 12.7% |
| General working capital | 6,650 | 30.2% |
| Estimated listing expenses | 4,300 | 19.5% |
Source: company prospectus, PDF page 40.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2021 | 16,273 | 799 | 4.91% | 0.26 |
| FY2022 | 20,215 | 806 | 3.99% | 0.26 |
| FY2023 | 30,619 | 4,238 | 13.84% | 1.37 |
| FY2024 | 40,006 | 6,284 | 15.71% | 2.02 |
Latest-FY revenue growth: +30.66%. PE at the IPO price: 17.33. Source: company prospectus (verified excerpts), PDF page 40.
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 -5.7% sits at P18 of its board · This IPO's since-listing of -35.7% sits at P20 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| FPHB | 14 May 2024 | RM 0.24 | +70.8% | +66.7% | RM 108.0 M |
| SUPREME | 29 Nov 2024 | RM 0.25 | +22.0% | -10.0% | RM 107.5 M |
| PANDA | 27 Nov 2023 | RM 0.16 | +62.5% | +50.0% | RM 107.4 M |
| OVH [NS] | 22 Jul 2020 | RM 0.26 | +103.8% | -46.2% | RM 106.9 M |
| JTGROUP | 20 Dec 2023 | RM 0.27 | +14.8% | +122.2% | RM 105.8 M |
| FAMIERA | 12 Nov 2025 | RM 0.25 | +2.0% | -10.0% | RM 112.5 M |
| YXPM | 23 Jun 2022 | RM 0.28 | -3.6% | -23.2% | RM 104.2 M |
| UNIQUE | 05 Aug 2022 | RM 0.26 | -13.5% | +85.1% | RM 104.0 M |
Audit
No audit published for this IPO.