ACE Market-bound Kee Ming Group To Raise RM31.50 Mln From IPO

KUALA LUMPUR, Jan 21 (Bernama) -- Kee Ming Group Bhd aims to raise RM31.50 million from its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd on Feb 12, 2026.

The provider of comprehensive mechanical and electrical (M&E) engineering solutions said in its prospectus that of the total proceeds from the public issue of RM25.30 million, RM13 million will be allocated for the company's working capital for its future projects.

Meanwhile, RM4 million has been earmarked for the company's future projects' performance bond, RM1.72 million for the company's expansion, RM1 million for the purchase of an enterprise resource planning system, RM598,000 for general working capital, and the remaining RM5 million to defray listing expenses.

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Kee Ming’s non-independent executive director and managing director, Liew Kar Hoe said the group will focus on three core segments in 2026, mainly the renewable energy interconnection works, data centres and industrial design-and-build projects.

"We see interconnection facilities work as a sustainable business and will last for many years, while the data centre is an industry that is driving our country now.

"(Although) Kee Ming is not a data-centre driven company, we have done data centre projects, especially for hyperscalers, and this is a good opportunity for us," he said during the launch of the company's prospectus here today.

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Liew added that the industrial M&E design-and-build works for factories, semiconductor facilities and logistics hubs remain as the group’s third core segment, describing it as Kee Ming’s ‘bread and butter’, supported by in-house design and engineering capabilities.

Kee Ming’s IPO entails 82.86 million ordinary shares offered at 38 sen per share, comprising a public issue of 66.63 million new ordinary shares and an offer for sale of up to 16.25 million existing ordinary shares.

Under the public issue, 16.25 million shares will be allocated to the Malaysian public via balloting and 8.13 million shares will be made available for eligible directors, employees and individuals who have contributed to the group’s success through the pink form allocation.

Another 40.63 million shares are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, and the remaining public issuance of 1.63 million shares and offer for sale of 16.25 million shares will be allocated to selected investors via private placement.

Upon its listing, the company’s enlarged share capital will comprise 325 million shares with a market capitalisation of RM123.50 million.

Applications for the public issue portion open today and close at 5 pm on Jan 27, 2026.

TA Securities Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for this exercise, while Eco Asia Capital Advisory Sdn Bhs is the financial adviser.

-- BERNAMA