EcoSys IPO: RM39.34M Target Secured for ACE Market Listing

EcoSys (Malaysia) Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its proposed listing on Bursa Malaysia’s ACE Market. This move marks a significant step for its Initial Public Offering (IPO).

The IPO includes a public issue of 145.7 million new shares, representing 25.5% of EcoSys’ enlarged issued share capital of 571.35 million shares. There is no offer for sale included in this transaction.

Share Allocation Breakdown

The new shares will be distributed across several investor categories:

• Malaysian public: 28.56 million shares

• Eligible individuals: 11.43 million shares

• Bumiputera investors approved by the Ministry of Investment, Trade and Industry: 71.42 million shares

• Selected investors: 34.28 million shares

M&A Securities will underwrite 40 million shares specifically for the Malaysian public and eligible persons. The remaining 105.7 million shares are designated for placement with approved Bumiputera and selected investors.

Anticipated Proceeds and Utilization

EcoSys Managing Director Chan Chee Wei anticipates raising gross proceeds of approximately RM39.34 million from the listing. These funds are earmarked for various strategic initiatives and operational needs.

Key areas for fund utilization include:

• Expanding the abatement systems business

• Acquiring essential key components and modules

• Repaying existing borrowings

• Investing in new machinery and increasing manpower

• Supporting the company’s expansion efforts into India

• Covering general working capital requirements

• Offsetting the expenses associated with the listing process

EcoSys specializes in providing ultra-high-purity fabrication and proprietary abatement systems. The company serves industries such as semiconductor, solar photovoltaic, and industrial gas sectors.

Bursa Malaysia previously approved EcoSys’ ACE Market listing on June 8, 2026.