Data centre engineering specialist MyDCD Bhd has signed an underwriting agreement with TA Securities Holdings Bhd for its 335 million-share IPO, moving a step closer to its planned ACE Market debut on Bursa Malaysia in the fourth quarter of 2026.
The IPO will comprise a public issue of 335 million new ordinary shares and an offer for sale of 145 million existing shares.
Of the new shares, 89.7 million will be made available to the Malaysian public through balloting, while 36 million will be reserved for eligible individuals.
Another 50.71 million shares will be placed with selected investors, with the remaining 158.59 million allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
The offer for sale will involve 79.34 million shares for selected investors and 65.66 million shares for MITI-approved Bumiputera investors.
Under the agreement, TA Securities will underwrite 89.7 million new shares earmarked for public subscription, as MyDCD seeks to raise funds to expand its engineering capabilities and capture growing opportunities in Malaysia’s booming data centre industry.
MyDCD, through its subsidiary DCD Technology Sdn Bhd, specialises in integrating mechanical, electrical, plumbing and fire protection (MEPF) systems for critical infrastructure, particularly data centres.
The company provides end-to-end engineering, installation, testing, commissioning and maintenance services for enterprise, colocation and hyperscale data centres.
Between FY23 and FY25, MyDCD completed data centre MEPF integration projects worth a combined RM549.3 million.
For FY25, the company recorded revenue of RM371.98 million, representing approximately 4% of Malaysia’s MEPF market, according to an independent market research report.
Its project portfolio includes work involving Bursa Malaysia, Telekom Malaysia Bhd-linked data centre infrastructure, Petronas group companies and Binastra Builders.
MyDCD plans to utilise the IPO proceeds primarily for working capital, workforce expansion and operational improvements, including additional office space, employee training and IT system enhancements.
Chief Executive Officer Chris Ow Yong said the underwriting agreement marked a significant milestone as the company prepares to capitalise on Malaysia’s rapid data centre expansion.
Having operated in the local data centre MEPF industry for approximately 15 years, he said MyDCD is well-positioned to benefit from rising infrastructure investments and Malaysia’s emergence as a regional data centre hub.
“With the market projected to grow from US$4.04 billion in 2024 to US$13.57 billion by 2030, we believe this is an opportune time for us to scale up and capture a larger share of this growth,” he said.
Ow Yong added that the IPO would strengthen the company’s project and engineering capabilities, expand its workforce and support its pursuit of new opportunities across the data centre ecosystem.
The proposed listing is targeted for the fourth quarter of 2026, with TA Securities serving as principal advisor, sponsor, underwriter and placement agent.
