RNG Tech Bhd began trading on the ACE Market, opening at its initial public offering (IPO) price of RM0.13 per share.
As at 9.03am, the stock remained unchanged at RM0.13, with 33.18 million shares traded. The counter touched an intraday high of RM0.135 while the day’s low remained at its opening price of RM0.13.
The debut follows a well-received IPO that saw the public portion oversubscribed by 7.8 times, reflecting healthy investor demand for the massage chair manufacturer and wellness technology company.
RNG Tech, best known for operating the “Rest N Go” vending massage chair network, raised RM16.4 million through the issuance of 126.1 million new shares at RM0.13 each. The listing values the company at approximately RM102.4 million, based on its enlarged issued share capital of 788 million shares.
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 an additional 2,458 chairs in Vietnam and the Philippines under licensing arrangements.
Speaking to BusinessToday ahead of the listing, Managing Director Datin Sophia Tan Sok Fei said Thailand is expected to become one of the company’s key growth engines following its successful expansion into Lotus’s and Big C outlets.
“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,” she said.
Tan added that RNG Tech plans to deploy 1,570 new self-service massage chairs across five ASEAN markets over the next three years, including 1,120 units in Malaysia and 450 units across Singapore, Thailand, Cambodia and Brunei. The company will also invest in upgrading existing Rest N Go stations and expanding its marketing efforts to drive customer usage.
M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO.
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