KUALA LUMPUR: Manforce Group Bhd
today launched its prospectus in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia, which is expected to raise RM30.4 million in gross proceeds, with its listing slated for May 6, 2026.
Manforce is a comprehensive provider of foreign workers’ management services, manual labour services, and hostel management solutions.
Managing director Datuk Wong Boon Ming said this milestone reflects the market’s recognition of Manforce’s track record and commitment to delivering reliable, compliant and technology-driven workforce solutions.
"We are humbled by the strong response and confidence shown by investors.
"The proceeds from our IPO will be channelled towards expanding our worker management capacity, enhancing digital systems, and strengthening operational efficiency to support future growth,” he said during the prospectus launch here today.
The IPO comprises a public issue of 79.99 million new ordinary shares, representing 20 per cent of the group’s enlarged issued share capital of 399.98 million shares, and an offer for sale of 19.99 million existing shares, representing five per cent of the enlarged issued share capital.
The IPO shares will be issued at RM0.38 per share.
The proceeds from the IPO will be utilised for several key purposes. Of the total, RM14.74 million will be allocated for the expansion of business operations through new recruitment quotas, while RM4.64 million will be used to enhance information technology and operational systems.
In addition, RM6.32 million will be set aside as working capital to support the group’s growing business activities, and RM4.7 million will be utilised to defray listing-related expenses.
The company’s IPO will be open for application on April 15, 2026, and close on April 21, 2026. Balloting is scheduled for April 24, followed by the allotment of shares on May 4.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. - Bernama
