WTEC
Key figures
- IPO price
- RM 0.25
- Day 1 open
- RM 0.25
- Day 1 close
- RM 0.235
- Current price
- RM 0.16
- Day 1 open %
- +0.0%
- Day 1 close %
- -6.0%
- Since listing
- -36.0%
- Oversubscription
- 1.61x
- Market cap
- RM 120.0 M
- Offer size
- 133.37 M
- Enlarged shares
- 480 M
- Float
- 27.79%
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) | 24 M | 18.0% |
| Bumiputera / MITI | 60 M | 45.0% |
| Private placement | 39.768 M | 29.8% |
| New shares issued | 90.17 M | 67.6% |
| Offer for sale | 43.2 M | 32.4% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are mainly involved in the manufacture and trading of foam and non-foam products.
Source: company prospectus, PDF page 14.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Purchase and renovation of new factory | 9,425 | 41.8% |
| Purchase of new machinery and equipment | 3,000 | 13.3% |
| Sales and marketing expenses | 1,000 | 4.4% |
| Working capital | 5,117 | 22.7% |
| Estimated listing expenses | 4,000 | 17.7% |
Source: company prospectus, PDF page 49.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2021 | 43,118 | 3,505 | 8.13% | 0.73 |
| FY2022 | 52,542 | 6,352 | 12.09% | 1.32 |
| FY2023 | 50,856 | 9,373 | 18.43% | 1.95 |
| FY2024 | 52,025 | 8,201 | 15.76% | 1.71 |
Latest-FY revenue growth: +2.30%. PE at the IPO price: 14.62. Source: company prospectus (verified excerpts), PDF page 35.
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 -6.0% sits at P18 of its board · This IPO's since-listing of -36.0% sits at P19 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| ICENTS | 17 Jul 2025 | RM 0.24 | +41.7% | +64.6% | RM 120.0 M |
| CORAZA | 20 Jan 2022 | RM 0.28 | +130.4% | +87.5% | RM 119.9 M |
| UMC | 26 Jul 2022 | RM 0.32 | +37.5% | +9.4% | RM 119.7 M |
| GHS | 22 Jan 2026 | RM 0.25 | -2.0% | -24.0% | RM 118.4 M |
| MSB | 15 Apr 2025 | RM 0.20 | -15.0% | -57.5% | RM 122.0 M |
| TOPMIX | 23 Apr 2024 | RM 0.31 | +35.5% | +48.4% | RM 122.1 M |
| SBS | 20 Jan 2026 | RM 0.25 | -4.0% | -54.0% | RM 122.5 M |
| HEGROUP | 30 Jan 2024 | RM 0.28 | +16.1% | +10.7% | RM 123.2 M |
Audit
No audit published for this IPO.