Enest Group Bhd began its debut on the ACE Market of Bursa Malaysia at its initial public offering (IPO) price of RM0.13 on Wednesday before easing in early trading as investors locked in profits.
The edible bird’s nest processor opened at RM0.13 and briefly climbed to an intraday high of RM0.135 before retreating to a low of RM0.115. As at 9.09am, the stock was trading at RM0.12, down one sen or 7.69% from its listing price, with about 34.88 million shares changing hands.
The listing follows strong investor demand for the group’s IPO, which was oversubscribed by 1.94 times. The public tranche attracted 2,871 applications for 85.53 million shares, exceeding the 29.08 million shares made available to the Malaysian public.
Enest entered the market after reporting a solid first quarter ended March 31, 2026, posting revenue of RM42.11 million and net profit of RM2.15 million. Its core bird’s nest business contributed more than 98% of total revenue, with China remaining its largest market, accounting for 65.1% of sales.
In an exclusive interview with BusinessToday, Managing Director David Tan said the ACE Market listing marks the beginning of the group’s next growth phase as it seeks to evolve from a traditional edible bird’s nest processor into a vertically integrated wellness products player.
“Our focus will be on strengthening our core bird’s nest processing business while expanding into higher value-added products and new revenue streams,” he said.
Read the full interview here:
Tan said the group plans to establish a manufacturing facility in Kajang to produce its own bottled bird’s nest and herbal beverages, while also expanding sales to traditional Chinese medicine manufacturers and growing its raw unclean bird’s nest trading business in China.
He added that part of the IPO proceeds will be used to repay RM5 million of bank borrowings and fund additional working capital to support expansion, improve financial flexibility and strengthen Enest’s presence in its key export market.
Looking ahead, Tan said investors should monitor the progress of the Kajang facility and the group’s efforts to broaden its customer base in China as Enest pursues sustainable long-term growth.
