PETALING JAYA: Hospitality amenities, personal care products and health foods provider, NWE Resources Group Bhd has launched its prospectus in conjunction with its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia Securities Bhd.
NWE Resources is principally involved in the supply of hospitality amenities, personal care products and health foods.
In a statement, the company said the IPO exercise comprises a public issue of 143.15 million new ordinary shares, representing 26.5% of the enlarged issued share capital of 540 million shares upon listing.
“Notably, there are no shares offered for sale by the promoters and substantial shareholders,” it said.
Of the 143.15 million shares, 27 million shares will be made available to the Malaysian public via balloting.
Another 10.8 million Issue Shares will be allocated to eligible directors, employees and persons who have contributed to the success of the group (Pink Form allocation), while the remaining 105.35 million shares will be placed out to selected investors by way of private placement.
Upon listing, NWE Resources will have a market capitalisation of RM108mil, based on an enlarged issued share capital of 540 million shares and an IPO price of 20 sen per share.
NWE Resources expects to raise gross proceeds of RM28.6mil from its public issue.
NWE Resources group managing director Tan Hong Huat said the bulk of the proceeds to be raised from this IPO will go toward expanding the group’s product range and market reach.
“These include introducing new health food and personal care formulations, expanding our research and development and in-house manufacturing capabilities, setting up a new sales office in Johor to capture a bigger share in the southern region, and setting up in-house live e-commerce and social media team to enhance our online presence and reach out directly to end consumers.”
Applications for the IPO shares open at 10am on Sept 29, 2026 and close at 5pm on Oct 9, 2026.
Balloting of applications is scheduled for Oct 13, 2026, with allotment on Oct 20, 2026, ahead of NWE Resources' listing on the ACE Market of Bursa Securities on Oct 21, 2026.
KAF Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
