Adnex IPO oversubscribed by 3.23 times

From left: Adnex Group Bhd independent non-executive director Yeo Jie Yin, Adnex independent non-executive director Cheong Woon Chee, Adnex non-independent non-executive director Kan Wai Peng, Adnex non-independent non-executive director/managing director Kan Wai Chun, Public Bank Investment Bhd chief executive officer Lee Yo-Hunn, Adnex independent non-executive chairman Datuk Mohd Zaid Zakaria and Adnex independent non-executive director Dr. Soon Fong Piew at the prospectus launching ceremony

PETALING JAYA: Adnex Group Bhd’s public portion of its initial public offering (IPO) was oversubscribed by 3.23 times ahead of its listing on the ACE Market of Bursa Malaysia on March 17, 2026.

The interior fit-out services provider received a total of 3,362 applications for 105.85 million issue shares from the Malaysian public, representing an overall oversubscription rate of 3.23 times.

Under the bumiputra portion, Adnex received 1,237 applications for 19.87 million shares, translating to an oversubscription rate of 0.59 times.

Meanwhile, the other Malaysian public portion attracted 2,125 applications for 85.98 million shares, representing an oversubscription rate of 5.88 times.

Adnex managing director Kan Wai Chun said the positive reception of the company’s IPO reflects recognition of its long-standing reputation for quality craftsmanship, project delivery excellence and consistent growth.