Building construction services provider SLGC Bhd is scheduled to list on the ACE Market of Bursa Malaysia Securities on Oct 6, 2026, following the launch of its IPO prospectus.
SLGC aims to raise RM29.4 million from the public issue at an IPO price of 28 sen per share. Of the proceeds, RM9.2 million or 31.4% will be used to purchase construction machinery and equipment, RM7.6 million or 25.7% to repay bank borrowings and RM7.5 million or 25.5% for general working capital.
A further RM500,000, or 1.7%, has been earmarked to upgrade construction management software, while RM4.6 million, or 15.7%, will go towards estimated listing expenses.
The IPO comprises a public issue of 105 million new shares, representing 18.8% of SLGC’s enlarged issued share capital, together with an offer for sale of 63 million existing shares, equivalent to 11.2% of the enlarged share base.
Of the 105 million new shares, 28 million shares will be offered to the Malaysian public via balloting and two million shares to eligible directors and employees. Another 70 million shares will be placed with selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while the remaining five million shares will be placed with selected investors.
Separately, all 63 million existing shares under the offer for sale will be allocated through private placement to selected investors.
Upon listing, SLGC is expected to have an enlarged issued share capital of 560 million shares and a market capitalisation of about RM156.8 million based on the IPO price of 28 sen.
The group, which provides building construction services for commercial, industrial and residential developments, had an unbilled order book of about RM1 billion as at Aug 12, 2026, providing earnings visibility through to the financial year ending Dec 31, 2030.
Applications for the public issue opened on Sept 10 and will close at 5pm on Sept 22.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.
