KUALA LUMPUR: EcoSys (Malaysia) Bhd is seeking to raise RM39.34mil from its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia.
In a statement, the industrial solutions provider said its IPO comprises a public issue of 145.70 million new shares, representing about 25.5% of its enlarged share capital, at 27 sen apiece.
There is no offer for sale under the IPO.
Of the proceeds, RM17mil will be used to expand its abatement segment through the purchase of key components and modules for abatement systems, while RM8mil will go towards repaying bank borrowings.
Another RM4.93mil will be used to enhance operational capabilities through the purchase of machinery and expansion of its workforce. EcoSys has also allocated RM1.54mil to expand its presence in India, including setting up a sales and service centre and recruiting local personnel.
The remaining proceeds will comprise RM2.36mil for working capital and RM5.50mil for listing expenses.
EcoSys provides ultra-high purity (UHP) fabrication of precision engineering components and sub-assembly modules, as well as abatement systems for the semiconductor and related industries.
Managing director Chan Chee Wei said the IPO proceeds would support the expansion of the group’s abatement segment, strengthen its fabrication and operational capabilities and advance its presence in India.
“The IPO proceeds will support the expansion of our abatement segment, strengthen our UHP fabrication and operational capabilities, and advance our presence in India.
“We believe these initiatives will enhance our ability to serve customers and provide a stronger platform for sustainable growth across the regional pan-semiconductor ecosystem,” he said.
India accounted for RM38.22mil, or 35.1%, of the group’s revenue in the financial year ended 2025.
EcoSys said it had also secured seven new customers in India for its abatement segment during the period under review and up to the latest practicable date.
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.
