EcoSys (Malaysia) Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its proposed listing on Bursa Malaysia’s ACE Market, marking a key milestone in the industrial solutions provider’s IPO exercise.
The IPO will comprise a public issue of 145.7 million new shares, representing about 25.5% of EcoSys’ enlarged issued share capital of 571.35 million shares. There will be no offer for sale.
Of the new shares, 28.56 million shares, or 5% of the enlarged share capital, will be offered to the Malaysian public, split equally between Bumiputera and other public investors.
A further 11.43 million shares, or 2%, will be allocated to eligible individuals, while another 71.42 million shares, representing 12.5%, will be placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while 34.28 million shares, or 6%, will be offered to selected investors.
Under the agreement, M&A Securities will underwrite 40 million shares allocated to the Malaysian public and eligible persons. The remaining 105.7 million shares will be placed with approved Bumiputera and selected investors.
EcoSys Managing Director Chan Chee Wei said they expect to raise gross proceeds of about RM39.34 million, mainly to expand its abatement systems business, purchase key components and modules, repay borrowings and invest in machinery and manpower.
“Part of the proceeds will also support its expansion into India, working capital requirements and listing expenses,” Chan added.
EcoSys provides ultra-high-purity fabrication and proprietary abatement systems for the semiconductor, solar photovoltaic, industrial gas and related manufacturing industries. Bursa Malaysia approved its ACE Market listing on June 8, 2026.
