Edible bird’s nest processor Enest Group Bhd made a muted ACE Market debut on July 15, closing at 10.5 sen, or 19.2% below its IPO price of 13 sen.
The stock opened at its IPO price of 13 sen, with 15.82 million shares traded, before briefly reaching an intraday high of 13.5 sen. However, selling pressure emerged during the session, pushing the counter to a low of 10 sen before it settled at 10.5 sen at midday and the closing bell.
A total of 79.45 million shares changed hands by the market close, making Enest among the actively traded counters on its debut day.
The listing came after strong investor interest in the IPO, which was oversubscribed by 1.94 times. The public tranche received 2,871 applications for 85.53 million shares, exceeding the 29.08 million shares allocated to Malaysian public investors.
Enest entered Bursa Malaysia following a strong first quarter ended March 31, 2026, recording revenue of RM42.11 million and net profit of RM2.15 million. Its core edible bird’s nest processing business contributed more than 98% of group revenue, with China remaining its largest market, accounting for 65.1% of sales.
Speaking to BusinessToday during a pre-IPO interview, Managing Director David Tan said the ACE Market listing marks a new growth phase for Enest as it aims to transform from a traditional edible bird’s nest processor into a vertically integrated wellness products company.
The group plans to strengthen its core processing operations while expanding into higher value-added products and new revenue streams.
Read the full interview article here.
