KUALA LUMPUR: 5E Resources Holdings Bhd aims to be listed on the ACE Market of Bursa Malaysia on April 15, 2026.
In a statement today, the waste management services provider said it expects to launch its prospectus and open its initial public offering (IPO) for application on March 30, 2026.
"It proposed that the IPO would involve a public issuance of 304.5 million new ordinary shares. Of this, 77 million shares will be made available for application by the Malaysian public.
"Meanwhile, 35 million shares will be allocated to eligible directors, employees, and other individuals who have contributed to the group’s success,” it said
The remaining 192.5 million shares will be placed out via private placement to bumiputera investors approved by the Investment, Trade and Industry Ministry.
5E Resources said the IPO will include an offer for sale of 154 million existing ordinary shares, made available via a private placement to selected investors.
It added that the IPO proceeds will be utilised primarily for the construction of the group’s new scheduled waste management facility in Perak and the acquisition of plant and equipment for the said facility.
"The group’s ongoing expansion at the PLO 321 facility in Johor Bahru, adjacent to its existing scheduled waste management facilities, is expected to commence operations in the second half of 2026.
"The establishment of the PLO 321 facility is primarily intended to increase the group’s overall scheduled waste management capacity and enable the group to process larger quantities and a wider range of scheduled wastes, which is expected to contribute positively to the group’s financial performance,” it said.
It expects to complete the construction works on the new Perak facility in the second half of 2029, with operations targeted to commence in the first half of 2030.
The balance of the proceeds will support the group’s operational funding requirements as it continues to scale its business, it added.
TA Securities Holdings Bhd is the principal adviser, sponsor, underwriter and placement agent for the proposed IPO. - Bernama
