KUALA LUMPUR: Yes Group Management Bhd is aiming to raise RM16.54mil 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 RM6.50mil of the IPO proceeds would be utilised to expand ground transportation services in Europe and establish a regional office in the United Kingdom.
Mak said the United Kingdom 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 United Kingdom. These include Germany and other Western European countries.
“The establishment of a United Kingdom office will also help the group reduce its reliance on local ground transportation partners, who currently account for margins of between 8% and 10%.
“Having our own operations in the United Kingdom 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 yesterday.
On the rise in oil prices amid geopolitical tensions, she said the group would 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 RM3mil would 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 RM3.04mil was for general working capital while another RM4mil will help defray listing expenses.
In a statement, the group said the IPO comprised a public issue of 91.87 million new ordinary shares priced at 18 sen per share.
Applications for the public issue opened yesterday and will close on Nov 13, 2026.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. — Bernama
