Kuala lumpur: Ambest Group Bhd, an engineering support services provider specialising in precision machining, is set to raise approximately RM27.50 million through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd, scheduled for February 6, 2026. The IPO entails the issuance of 110 million new shares at a price of 25 sen per share.
According to BERNAMA News Agency, Ambest plans to allocate around RM12.0 million of the proceeds to repay bank borrowings, primarily for the acquisition of its Factory 42A in Bayan Lepas, Penang. Additionally, RM3.9 million is earmarked for the purchase of new machinery, and approximately RM6.8 million will be used for working capital requirements. The remaining RM4.8 million will cover listing-related expenses.
Managing Director Tan Beng Beng stated that the company will maintain its focus on the core precision machining business post-listing, especially in serving the semiconductor industry. During a press conference held in conjunction with the launch of the company's prospectus, Tan emphasized Ambest's commitment to upgrading quality standards as part of its next chapter.
Tan highlighted that Factory 42A will play a crucial role in Ambest's expansion plans. The newly acquired facility is expected to support new orders from both new and existing customers. As part of the company's growth strategy, Ambest aims to strengthen its internal capabilities by obtaining additional certifications to enter more regulated industries. Currently certified under ISO 9001 and ISO 14001, the group is pursuing further certifications, including ISO 13485.
Furthermore, Tan revealed that Ambest plans to acquire two additional advanced machines-a five-axis machine and a horizontal computer numerical control (CNC) machine-to boost overall production capacity by approximately four percent. The public issue portion of the IPO opens today and will close on Monday, January 27, 2026, at 5 pm.
Malacca Securities is serving as the principal adviser, sponsor, underwriter, and placement agent for Ambest's IPO, while WYNCORP Advisory Sdn Bhd acts as the corporate finance adviser for the exercise.