KUALA LUMPUR: Integrated refurbished technology leader CompAsia Sdn Bhd is set to launch its Main Market initial public offering (IPO) on Bursa Malaysia in the first half of financial year 2027 (1H27), aiming to raise around RM400mil to RM500mil, with a valuation of about RM2bil.
Founder and chief executive officer Julius Lim said the company is in the process of appointing its banker for the exercise and expects to finalise the appointment within the next one to two months.
“We have already met with all the big banks.
“Our goal is to do it by the first half of next year,” he told Bernama recently.
Lim said the company is also conducting a pre-IPO fundraising round over the next one to two months, targeting high-net-worth individuals who may invest ahead of the listing at a discount to the IPO price.
Regarding the IPO proceeds, Lim said the funds would mainly be utilised for working capital, to develop its device ownership plan, ReNewNGo, and to strengthen its omnichannel presence to ensure a seamless experience between online and physical retail in Malaysia.
“Last year, we had only five to six stores operating in Malaysia, but we have since expanded to around 70 stores across the country, including in Sabah and Sarawak.
“We have been aggressively rolling out our offline stores,” he said.
“Our goal is to double the number to 150 stores by the end of 2026 and grow further moving forward.”
On the company’s earnings performance, Lim said CompAsia registered a pre-tax profit of RM20mil in 2025, up from RM12mil in 2024, and aims to more than triple it to RM70mil in 2026.
On revenue, he said the company recorded about RM180mil in revenue last year from its Malaysia operations and is targeting around RM400mil this year, mainly driven by its ReNewNGo business.
