KUALA LUMPUR: Express Powerr Solutions (M) Bhd
(Express Powerr), which debuted on the ACE Market today, emerged as the most active stock. At 9.52 am, its shares rose two sen to 22 sen, with 96.01 million shares traded.
The counter opened at 21.5 sen, a premium of 1.5 sen over its initial public offering (IPO) price of 20 sen, with 28.44 million shares changing hands at the opening bell.
In a statement, the company said of the RM36.0 million raised from the IPO, RM20.5 million (56.9 per cent) has been allocated for the purchase of generators and RM5.0 million (13.9 per cent) for repayment of bank borrowings.
A further RM4.1 million (11.3 per cent) will go towards medium and high-voltage equipment, RM2.2 million (6.2 per cent) for general working capital, and RM4.2 million (11.7 per cent) for listing expenses.
Managing director Lim Cheng Ten said the company currently holds a 7.8 per cent market share of Malaysia’s light machinery and equipment rental industry and continues to expand nationwide.
"In July 2025, we extended into Penang and Kelantan after securing two letters of award to provide generator rental services in these states.
"Moving forward, the fresh capital raised from our listing will support further expansion, enabling us to grow our presence while continuing to power the nation’s critical infrastructure,” he said. - Bernama
