Ambest Group Eyes Listing On Bursa Malaysia In 1Q 2026

KUALA LUMPUR, Dec 11 (Bernama) -- Penang-based Ambest Group Bhd is targeting a listing on the ACE Market of Bursa Malaysia Securities Bhd in the first quarter of next year.

The engineering supporting services provider specialising in precision machining for customised parts and components today entered into an underwriting agreement with Malacca Securities Sdn Bhd for the company’s initial public offering (IPO). 

The IPO comprises a public issue of 110 million new shares and an offer for sale of 40.95 million existing shares, it said in a statement.

“Of the 110 million issue shares, 25.5 million shares will be made available to the Malaysian public via balloting while 12.75 million issue shares are allocated to the group’s eligible directors, employees and business associates who have contributed to the success of Ambest under the pink form allocations.

“A total of 63.75 million issue shares will be made available to Bumiputera investors approved by the Ministry of Investment, Trade and Industry while the remaining eight million issue shares will be allocated by way of private placement to selected investors,” the company said. 

Malacca Securities will underwrite a total of 38.25 million issue shares, comprising 25.5 million issue shares made available for application by the Malaysian public and 12.75 million shares made available to eligible persons.

The group plans to utilise a portion of the IPO proceeds for repayment of borrowing, Ambest said.

“Another portion will be allocated for the purchase of new machineries, including a five-axis CNC (computer numerical control) machine for simultaneous multi-directional cutting and a CNC horizontal machine designed for high-precision machining of larger or more complex components.

“These investments are essential for Ambest to remain competitive, improve manufacturing efficiency and demonstrate strong technical capabilities to secure higher-volume and more advanced orders from customers,” it said.

In addition, part of the proceeds will be channelled towards general working capital to support the procurement of raw materials, operational expenses and day-to-day activities, it said.

The remaining proceeds will be utilised to defray listing-related expenses associated with the IPO.

Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for the exercise while Wyncorp Advisory Sdn Bhd is the corporate finance adviser.

-- BERNAMA