ACE Market-bound EcoSys eyes RM39.34 mln from IPO

KUALA LUMPUR (September 23): Industrial solutions provider EcoSys (Malaysia) Bhd aims to raise RM39.34 million from an initial public offering (IPO) ahead of its listing on Bursa Malaysia’s ACE Market on Oct 14, 2026.

The IPO is priced at 27 sen per share and comprises 145.70 million new ordinary shares, representing about 25.5 per cent of its enlarged issued share capital of 571.35 million shares upon listing.

EcoSys said RM17 million of the proceeds will fund expansion of its abatement segment, while RM8 million will repay bank borrowings and RM4.93 million will be used to enhance operational capabilities through machinery purchases and team expansion.

Another RM1.54 million will fund the establishment of a sales and service centre in India, RM2.36 million will be allocated for working capital and RM5.5 million for estimated listing expenses.

EcoSys managing director Chan Chee Wei said the company was benefiting from India’s “Make in India” initiative, which aims to position the country as a semiconductor hub by 2035.

“Because of the government policy over there, they are putting in very strong solar policies. So, we are enjoying quite a good order from the Indian solar market at the moment,” he told reporters after the prospectus launch ceremony.

India contributed RM38.22 million, or 35.1 per cent, of the groupís revenue in financial year 2025, according to the prospectus.

During the period under review and up to the latest practicable date, EcoSys also secured seven new customers in India for its abatement segment, reflecting growing demand for its systems.

EcoSys and its subsidiaries provide ultra-high-purity fabrication of precision engineering components and sub-assembly modules, as well as research and development, customisation, assembly, installation, testing, commissioning and maintenance of abatement systems.

Its solutions serve the semiconductor, solar photovoltaic panel manufacturing and industrial gas supply sectors.

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. – Bernama