Evocom Bhd is seeking to raise approximately RM20.5 million from its IPO as the e-commerce enabler prepares to list on the ACE Market of Bursa Malaysia.
The IPO exercise involves the issuance of 113.91 million new shares at 18 sen each, valuing Evocom at an estimated RM82.01 million market capitalisation based on an enlarged share capital of 455.63 million shares upon listing. The shares have also been classified as Shariah-compliant by the Securities Commission Malaysia’s Shariah Advisory Council.
Of the proceeds, RM7.2 million, or 35.12%, will be channelled into working capital for Evocom’s flexible staffing services, which support recruitment, payroll administration and manpower management across first-mile, line-haul and last-mile delivery operations.
Another RM3 million, or 14.63%, will fund the development of its proprietary technology applications, including EVOSHIFT and CLiPs, which are being built to support route optimisation, workforce coordination, operational visibility and logistics management.
A further RM3 million, or 14.63%, will be allocated as working capital to expand its air freight transhipment business, particularly to support growing cross-border e-commerce activities.
Evocom will also spend RM1.5 million, or 7.31%, to establish a proposed integrated headquarters in Nilai, Negeri Sembilan, bringing together its warehouse, office and operational functions near Kuala Lumpur International Airport and key logistics networks.
Another RM1.34 million, or 6.56%, has been earmarked for general working capital, while the remaining RM4.46 million, or 21.75%, will go towards listing expenses.
Chief Executive Officer Ian Tan said the listing would give Evocom greater capacity to strengthen its technology, logistics and operational platform as it scales its presence in the e-commerce ecosystem.
The public issue opens from today and will close at 5pm on Sept 14, 2026.
NewParadigm Securities is the principal advisor, sponsor, sole underwriter and sole placement agent for the IPO.
