Yes Group Management Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its proposed ACE Market listing on Bursa Malaysia.
Under the agreement, Malacca Securities will underwrite 31.8 million new shares, comprising 26.5 million shares allocated to the Malaysian public and another 5.3 million shares under the Pink Form allocations.
The IPO will involve a public issue of 91.87 million new shares and an offer for sale of 45.93 million existing shares, bringing the total offering to 137.8 million shares.
Of the new shares, 26.5 million shares, representing 5% of Yes Group’s enlarged issued share capital, will be made available to the Malaysian public. Half of the allocation will be offered to public investors, while the remaining half will be reserved for Bumiputera public investors.
Another 5.3 million shares, or 1% of the enlarged share capital, will be allocated to eligible personnel through Pink Form allocations.
Meanwhile, 60.07 million new shares, equivalent to 11.33% of the enlarged issued share capital, will be placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
For the offer-for-sale portion, 6.18 million existing shares, or 1.17% of the enlarged share capital, will be placed with MITI-approved Bumiputera investors, while another 39.75 million shares, representing 7.50%, will be offered to selected investors.
Yes Group Managing Director Angela Mak Shau Kwan said the underwriting agreement reflects the company’s progress towards its proposed listing, while its focus remains on strengthening its corporate incentive travel and MICE businesses.
The group’s revenue rose 82.4% to RM75.47 million in the financial year ended 2025 from RM41.39 million in 2023, while profit after tax increased 43% to RM7.34 million from RM5.13 million over the same period.
Malacca Securities Sdn Bhd is acting as principal advisor, sponsor, underwriter and placement agent for the IPO.
