RNG Tech Bhd made a steady debut on Bursa Malaysia’s ACE Market on July 7, with shares closing unchanged at its IPO price of 13 sen despite strong trading activity that saw nearly 110.46 million shares exchanged hands.
The operator of the “Rest N Go” vending massage chair network opened at 13 sen, matching its IPO price, with 23.11 million shares traded during the opening session at 9am.
The counter maintained its IPO price at midday, with total volume reaching 79.49 million shares, before ending the trading day flat at 13 sen.
It was previously reported that RNG Tech raised RM16.4 million through the issuance of 126.1 million new shares at 13 sen each, with the funds set to support its expansion strategy, upgrade existing stations and strengthen its presence across Southeast Asia.
The company is Malaysia’s largest vending massage chair operator by revenue, commanding a 66.2% market share in 2025.
It currently operates 5,611 vending massage chairs across Malaysia, Singapore, Thailand, Cambodia and Brunei, while maintaining another 2,458 chairs in Vietnam and the Philippines through licensing arrangements.
During an interview with BusinessToday ahead of the listing, Managing Director Datin Sophia Tan Sok Fei said Thailand is expected to remain a major growth contributor following the company’s successful expansion into leading retail chains including Lotus’s and Big C.
“Thailand has emerged as a key growth market. Following our successful entry into Lotus’s and Big C last year, Thailand contributed meaningfully to our first-quarter FY26 results, and we see it continuing to be one of our key growth engines going forward,” Tan told BusinessToday.
She said the company will continue to strengthen its regional footprint as demand for self-service wellness solutions grows across ASEAN markets.
As part of its growth roadmap, RNG Tech plans to deploy 1,570 new self-service massage chairs across five ASEAN markets over the next three years.
Malaysia will account for the largest share of the expansion, with 1,120 new units planned, while the remaining 450 units will be deployed across Singapore, Thailand, Cambodia and Brunei.
The company also plans to invest in upgrading existing Rest N Go stations and enhancing marketing initiatives to increase customer engagement and drive usage.
Following its listing, Tan said RNG Tech has adopted a dividend policy of distributing at least 30% of its annual net profit to shareholders, subject to future funding requirements and other relevant considerations.
She said the policy reflects the company’s commitment to balancing growth investments with long-term shareholder value creation.
With its extensive regional network and plans to expand its self-service massage chair footprint, RNG Tech is positioning itself to capture further opportunities in the growing wellness and convenience retail segments across Southeast Asia.
