KUALA LUMPUR: Manforce Group Bhd
has launched its prospectus in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia, which is expected to raise RM30.4mil 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.
The IPO comprises a public issue of 79.99 million new ordinary shares, representing 20% 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 5% of the enlarged issued share capital.
The IPO shares will be issued at RM0.38 per share. Of the total proceeds, RM14.74mil will be allocated for the expansion of business operations through new recruitment quotas, among others. — Bernama
