EcoSys (Malaysia) Bhd is seeking to raise RM39.34 million from its IPO on Bursa Malaysia’s ACE Market, with its shares priced at 27 sen apiece.
The industrial solutions provider said the IPO will comprise a public issue of 145.7 million new ordinary shares, representing about 25.5% of its enlarged issued share capital of 571.35 million shares upon listing. There will be no offer for sale under the exercise.
Of the proceeds, RM17 million will be allocated to expanding its abatement segment through the purchase of key components and modules, while RM8 million will go towards repaying bank borrowings.
Another RM4.93 million has been earmarked to strengthen operational capabilities through new machinery and workforce expansion, while RM1.54 million will fund its expansion in India, including the establishment of a sales and service centre and recruitment of local personnel.
EcoSys will also allocate RM2.36 million for working capital and RM5.5 million for estimated listing expenses.
The company provides ultra-high purity fabrication of precision engineering components and sub-assembly modules, alongside the research and development, customisation, assembly, installation and maintenance of abatement systems serving the broader semiconductor industry.
India has emerged as a key growth market for EcoSys, contributing RM38.22 million, or 35.1% of group revenue, in FYE2025. The company had also secured seven new customers in India for its abatement segment during the financial period under review and up to the latest practicable date.
Managing Director Chan Chee Wei said the IPO proceeds would support the expansion of its abatement business, strengthen its fabrication and operational capabilities and advance its presence in India.
M&A Securities Sdn Bhd is the principal advisor, sponsor, underwriter and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial advisor.
