SUMI
Key figures
- IPO price
- RM 0.24
- Day 1 open
- RM 0.18
- Day 1 close
- RM 0.18
- Current price
- RM 0.09
- Day 1 open %
- -25.0%
- Day 1 close %
- -25.0%
- Since listing
- -62.5%
- Oversubscription
- 1.85x
- Market cap
- RM 346.5 M
- Offer size
- 400 M
- Enlarged shares
- 1443.6 M
- Float
- 27.71%
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) | 72.5 M | 18.1% |
| Bumiputera / MITI | 180.45 M | 45.1% |
| Private placement | 122.65 M | 30.7% |
| New shares issued | 310 M | 77.5% |
| Offer for sale | 90 M | 22.5% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are principally a manufacturer of O&G specialty chemicals focusing on drilling fluid chemicals, and production and refinery chemicals for the upstream, midstream and downstream segments in the O&G industry. The drilling fluid and production chemicals that we manufacture are oilfield chemicals which are mainly used at the O&G prospecting areas or location of O&G reservoirs.
Source: company prospectus, PDF page 110.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Acquisitions of the New Puncak Alam Warehouse and New Puncak Alam Corporate Office | 40,200 | 54.0% |
| Acquisition of the existing Puncak Alam Factory | 18,900 | 25.4% |
| Capital expenditure | 2,080 | 2.8% |
| Expansion of R&D division | 7,620 | 10.2% |
| Estimated listing expenses | 5,600 | 7.5% |
Source: company prospectus, PDF page 60.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FPE2023 | 131,486 | 1.75 | ||
| FPE2024 | 130,706 | 0.73 | ||
| FYE2021 | 95,725 | 0.63 | ||
| FYE2022 | 145,817 | 1.16 | ||
| FYE2023 | 198,783 | 2.12 |
Latest-FY revenue growth: +36.32%. PE at the IPO price: 11.32. Source: company prospectus (verified excerpts), PDF page 73, 74.
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 -25.0% sits at P1 of its board · This IPO's since-listing of -62.5% sits at P5 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| LEFORM | 30 Nov 2022 | RM 0.23 | -19.6% | -26.1% | RM 340.6 M |
| BMS | 08 Dec 2025 | RM 0.22 | -20.4% | -9.1% | RM 338.8 M |
| EIPOWER | 21 May 2026 | RM 0.48 | +14.6% | +86.5% | RM 336.0 M |
| ISF | 28 Jan 2026 | RM 0.33 | +45.5% | +157.6% | RM 330.0 M |
| NE | 15 Oct 2024 | RM 0.50 | +1.0% | +50.0% | RM 370.0 M |
| SORENTO | 28 Oct 2024 | RM 0.37 | +1.4% | +12.2% | RM 318.2 M |
| BFIELD | 15 Sep 2026 | RM 0.48 | -4.2% | -11.5% | RM 384.0 M |
| VLB | 31 Jan 2023 | RM 0.33 | +18.2% | +36.4% | RM 311.6 M |
Audit
No audit published for this IPO.