KUALA LUMPUR: AMS Advanced Material Bhd (AMSB) aims to raise RM32.77 million from its initial public offering (IPO) via a listing on the ACE Market of Bursa Malaysia on April 23, 2026.
The supplier of aluminium and copper products said RM8.10 million or 24.73 per cent from the total proceeds will be utilised to set up a new licensed manufacturing warehouse in Penang, while RM6.89 million (21.05 per cent) is for the group’s expansion into the manufacturing of aluminium architectural products.
"Another 7.63 per cent, or RM2.50 million, will be allocated to establish a new distribution point in Kuantan, Pahang, a further 24.92 per cent, or RM8.16 million, to repay borrowings, and 8.15 per cent, RM2.67 million, for working capital,” it said in a statement.
The remaining RM4.43 million, 13.5 per cent, will be used to cover IPO and listing-related expenses.
At a press conference after launching its prospectus here today, AMSB managing director Keith Keh Teng Yang said the group’s expansion plans are primarily to boost capacity and support rising demand from key growth sectors.
Keh said the initiatives are expected to drive revenue growth of about 10 to 20 per cent.
"We are operating at almost full capacity. The new facilities will allow us to complement and increase our capacities,” he said.
The Penang manufacturing warehouse and Kuantan distribution plant are expected to be fully utilised within 24 months post-listing, with contributions to the group’s revenue anticipated to ramp up within 12 months.
AMSB has been expanding its value-added aluminium processing capabilities to capture opportunities in the semiconductor and engineering support industry segments, which have recorded significant growth in recent years.
Keh said the group aims to position itself as a one-stop solution provider for these industries by enhancing its processing capabilities, enabling it to secure more projects from existing and new customers.
AMSB’s enlarged share capital will comprise 612 million shares with a market capitalisation of RM177.48 million, based on the IPO price of 29 sen per share on listing.
Application for the IPO opens today and closes at 5 pm on April 10, 2026.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the exercise. - Bernaam
