ISF Group Berhad, a provider of end-to-end piping solutions, has made a notable entrance on the ACE Market of Bursa Malaysia Securities Berhad. The company’s shares opened at 50 sen, marking a 51.52% premium over its initial public offering (IPO) price of 33 sen, with an opening volume of 45,578,100 shares. This debut is a significant milestone for ISF, which operates under the Industrial Products & Services sector with the stock code 0390.
The IPO was managed by Alliance Islamic Bank Berhad, serving as the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent. Jeff Ai Boon Chen, Managing Director of ISF, expressed that the listing represents a major step in the company’s growth trajectory, enabling it to undertake larger projects and better serve its customers. “The listing of ISF on the ACE Market of Bursa Securities marks a significant milestone in our corporate journey,” he stated.
ISF plans to utilise the RM61.15m raised from the IPO to expand its operational facilities, develop existing business activities, and grow its workforce. Specifically, RM11.35m will be allocated for operational facilities, RM2.05m for business development, RM1.85m for workforce expansion, RM1.20m for loan repayments, RM39.90m for working capital, and RM4.80m for listing expenses.
The company anticipates benefiting from the Thirteenth Malaysia Plan, which prioritises affordable housing and infrastructure upgrades, as well as the growth of the domestic data centre industry. This strategic positioning is expected to support ISF’s long-term growth and operational capacity.
