KUALA LUMPUR: Yes Group Management Bhd aims to raise RM16.54 million from its initial public offering (IPO) ahead of its listing on Bursa Malaysia’s ACE Market on Nov 26, 2026.
Yes Group operates the Yes Travel brand. It is essentially a meetings, incentives, conferences, and exhibitions (MICE) specialist.
Managing director Mak Shau Kwan said RM6.50 million of the IPO proceeds will be utilised to expand ground transportation services in Europe and establish a regional office in the United Kingdom.
Mak said the UK was selected as the expansion base because it is an international hub for the European market. It will allow the group to serve customers beyond the UK, including Germany and other Western European countries.
"The establishment of a UK office will also help the group reduce its reliance on local ground transportation partners, who currently account for margins of between eight and 10 per cent.
"Having our own operations in the UK will improve cost efficiency, particularly in managing transportation arrangements for Malaysian staff travelling to Europe," she told a press conference after the group's prospectus launch event today.
On the rise in oil prices amid geopolitical tensions, she said the group will take prevailing fuel prices and currency exchange rates into account when preparing revised quotations for its corporate clients.
Mak expects demand to rise, citing the group's in-house research showing that demand for MICE specialists tripled between 2022 and 2026.
She also said RM3.00 million will be used to establish Yes Academy. It is slated to commence operations nine months after its listing, with a target enrolment of 100 students per year.
Additionally, she said RM3.04 million is for general working capital while another RM4.00 million will help defray listing expenses.
In a statement today, the group said the IPO comprises a public issue of 91.87 million new ordinary shares priced at 18 sen per share.
Applications for the public issue opened today and close on Nov 14, 2026.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. - Bernama
