KUALA LUMPUR: Information technology (IT) solutions provider MM Computer Systems Bhd (MMCS) aims to raise RM26.18mil from its initial public offering (IPO) via its listing on the ACE Market of Bursa Malaysia on June 11.
The IPO comprises a public issue of 119 million new shares priced at 22 sen per share, alongside an offer for sale of 47.34 million existing shares.
MMCS said the proceeds will primarily be used to support the expansion of the group’s project execution capabilities, including the procurement of IT hardware and software, workforce expansion, capability development and partial repayment of bank borrowings.
Managing director and chief executive officer Young Yoong Chang said enterprise IT environments are becoming increasingly complex and security-sensitive.
He said MMCS has been building its capabilities in IT infrastructure, networking, cybersecurity and IT outsourcing services over the past two decades to meet evolving industry requirements.
Young said MMCS expects annual growth of about 20% in both revenue and profit over the next two years.
He added that approximately RM37mil from the group’s order book is expected to be recognised in the financial year ending 2026, while the remaining balance would be recognised progressively through multi- year contracts running until 2029, depending on project delivery timelines.
Applications for the IPO opened yesterday and will close on May 25, 2026, at 5pm. — Bernama
