Rest N Go”saw its initial public offering oversubscribed by 7.8 times ahead of its listing on the ACE Market of Bursa Malaysia Securities.
RNG Tech Berhad, through its subsidiaries operates Malaysia’s largest vending massage chair operator by revenue, operating under the “Rest N Go” brand, with a market share of 66.2% in 2025.
The IPO exercise entails a public issue of 126.1 million new ordinary shares at an issue price of RM0.13 per share, raising gross proceeds of RM16.4 million for the Company. In addition, there is an offer for sale of 78.8 million existing shares, representing approximately 10.0% of the enlarged issued share capital of the Company, by way of private placement to selected investors.
In respect of the 39.4 million Issue Shares allocated to Malaysian public, RNG Tech received a total of 7,321 applications for 345,621,100 Issue Shares with a value of approximately RM44.9 million representing an overall oversubscription rate of 7.8 times. The breakdown of applications is as follows:
For the Bumiputera portion, 3,489 applications for 122,864,400 Issue Shares were received, representing an oversubscription rate of 5.2 times..
RNG Tech is scheduled to be listed on the ACE Market of Bursa Securities on 7 July 2026. Upon listing, RNG Tech will have a market capitalisation of approximately RM102.4 million, based on the IPO price of RM0.13 per share and its enlarged issued share capital of 788.0 million shares.
M & A Securities Sdn Bhd is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise
