HSS Holdings Bhd opened flat at 18 sen on its ACE Market debut, holding steady at its initial public offering price in early trade after a heavily oversubscribed listing.
Early activity saw the counter trading within a tight range of 17.5 sen to 18 sen, with the opening price matching its IPO level. Volume reached 356,312 lots, signalling active investor participation on the bakery group’s first day of trading.
The stock’s debut follows a strong pre-listing response, with HSS Holdings’ IPO oversubscribed by 10.56 times across all tranches. The offering consisted of a public issue of 75 million new shares and an offer for sale of 52.5 million existing shares at 18 sen per share.
At the IPO price, the group was valued at a market capitalisation of about RM90 million, with proceeds of RM13.5 million raised from the public issue earmarked for expansion, automation upgrades and working capital requirements.
Managing Director Goh Chen Chang previously described the listing as a strategic transition for HSS Holdings, as the group shifts from a traditional bakery operator into a more scalable, automation-led manufacturing business with ambitions to build a broader FMCG-style platform.
The funds raised will support capacity expansion, including a new automated cake production line, upgrades to biscuit and cookie manufacturing facilities and the rollout of an ERP system to improve operational efficiency. A portion will also go towards bank borrowings and general working capital.
HSS Holdings operates across sourcing, trading and manufacturing of bakery products and recorded revenue of RM144.4 million with net profit of RM8.6 million for the financial year ended 2025.
