THMY
ACE
Shariah
MITI
Key figures
- IPO price
- RM 0.31
- Day 1 open
- RM 0.80
- Day 1 close
- RM 0.91
- Current price
- RM 0.90
- Day 1 open %
- +158.1%
- Day 1 close %
- +193.6%
- Since listing
- +190.3%
- Oversubscription
- 35.57x
- Market cap
- RM 275.3 M
- Offer size
- 232.71 M
- Enlarged shares
- 888 M
- Float
- 26.21%
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) | 44.4 M | 19.1% |
| Bumiputera / MITI | 111 M | 47.7% |
| Private placement | 53.776 M | 23.1% |
| New shares issued | 143.91 M | 61.8% |
| Offer for sale | 88.8 M | 38.2% |
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Acquisition of new industrial land | 3,000 | 6.7% |
| Construction cost | 22,900 | 51.3% |
| Repayment of bank borrowings | 5,227 | 11.7% |
| Purchase of new machinery and equipment | 3,700 | 8.3% |
| D&D and R&D expenditure | 1,900 | 4.3% |
| Working capital | 3,085 | 6.9% |
| Estimated listing expenses | 4,800 | 10.8% |
Source: company prospectus, PDF page 55.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2022 | 25,768 | 1,322 | 5.13% | 0.15 |
| FY2023 | 32,501 | 3,435 | 10.57% | 0.39 |
| FY2024 | 31,228 | 6,750 | 21.62% | 0.76 |
| FY2025 | 45,929 | 10,041 | 21.86% | 1.13 |
Latest-FY revenue growth: +47.08%. PE at the IPO price: 27.43. Source: company prospectus (verified excerpts), PDF page 42.
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 +193.6% sits at P97 of its board · This IPO's since-listing of +190.3% sits at P91 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| SCGBHD | 16 Oct 2020 | RM 0.34 | -2.9% | +514.7% | RM 272.0 M |
| SET | 08 Jan 2025 | RM 0.28 | +41.1% | -26.8% | RM 280.2 M |
| CENGILD | 18 Apr 2022 | RM 0.33 | +40.9% | -34.8% | RM 270.2 M |
| EMCC [NS] | 26 Sep 2023 | RM 0.24 | +31.2% | +43.8% | RM 267.6 M |
| FOODIE [NS] | 28 Nov 2025 | RM 0.30 | +33.3% | +45.0% | RM 266.4 M |
| CHEEDING | 07 Oct 2025 | RM 0.36 | +104.2% | +120.8% | RM 287.0 M |
| DSS | 06 Jan 2023 | RM 0.55 | +12.7% | -54.5% | RM 264.0 M |
| CARLORINO | 18 Dec 2024 | RM 0.27 | -14.8% | -48.1% | RM 263.9 M |
Audit
No audit published for this IPO.