KUALA LUMPUR: Engineering services provider MyDCD Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd in conjunction with its listing on the ACE Market of Bursa Malaysia in the fourth quarter of 2026.
Out of MyDCD's public issue of 335 million new shares, TA Securities will underwrite the 89.7 million public issue shares made available to the Malaysian public via balloting.
The IPO exercise will entail a further 36 million shares to be allocated to eligible directors, employees and persons who have contributed to the success of MyDCD and its subsidiary, 50.71 million to selected investors by way of private placement, and a remaining 158.59 million shares to be made available to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Additionally, the IPO also involves an offer for sale of 145 million existing shares, comprising 79.34 million offer shares to be made available to selected investors and 65.66 million offer shares to be made available to selected Bumiputera investors approved by MITI, both by way of private placement.
MyDCD, through its subsidiary, DCD Technology Sdn Bhd, specialises in the integration of MEPF systems and subsystems for critical infrastructure, with a particular focus on data centres.
From FY23 to FY25, the company completed MEPF system and subsystem integration projects for data centres with a total project value of RM549.3mil.
In FY25, MyDCD recorded revenue of RM371.98mil, which translates to approximately 4% of Malaysia’s MEPF market based on the Independent Market Research report.
The proceeds raised from the IPO will be utilised mainly for working capital requirements, and to fund the Company's expansion in business operations, including the hiring of additional headcounts under its project, engineering and human resource departments and the rental of new office space, as well as periodic training costs for staff.
The remaining proceeds will be used for the enhancement of IT systems and listing expenses.
“Malaysia’s growing position as a data centre hub is supported by factors including cost competitiveness, reliable utilities and strong policy support, with locations such as Johor also benefiting from lower operating costs and proximity to Singapore's connectivity infrastructure.
"With the market projected to grow from USD4.04 billion in 2024 to USD13.57 billion by 2030, we believe this is an opportune time for us to scale up and capture a larger share of this growth," said Chris Ow Yong, CEO of MyDCD, in a statement.
TA Securities is the principal adviser, sponsor, underwriter and placement agent of the IPO.
