Kuala Lampur:EcoSys (Malaysia) Bhd, an industrial solutions provider, aims to generate RM39.34 million through an initial public offering (IPO) prior to its listing on Bursa Malaysia's ACE Market on October 14, 2026.

According to BERNAMA News Agency, the IPO is priced at 27 sen per share, consisting of 145.70 million new ordinary shares, which will account for approximately 25.5% of its expanded issued share capital of 571.35 million shares upon listing.

EcoSys plans to allocate RM17 million of the proceeds to expand its abatement segment. Additionally, RM8 million will be used to repay bank borrowings, and RM4.93 million will enhance operational capabilities through purchases of machinery and team expansion. The company will also invest RM1.54 million to establish a sales and service center in India, RM2.36 million for working capital, and RM5.5 million for estimated listing expenses.

Managing Director Chan Chee Wei highlighted the benefits EcoSys derives from India's "Make in India" initiative, which seeks to transform the country into a semiconductor hub by 2035. Chan noted that strong solar policies in India are currently driving significant orders from the Indian solar market.

India contributed RM38.22 million or 35.1% of EcoSys's revenue in the financial year 2025, as detailed in the prospectus. During the review period and up to the latest practicable date, EcoSys also gained seven new customers in India for its abatement segment, indicating a rising demand for its systems.

EcoSys and its subsidiaries specialize in ultra-high-purity fabrication of precision engineering components and sub-assembly modules, as well as research and development, customization, assembly, installation, testing, commissioning, and maintenance of abatement systems. Their solutions cater to the semiconductor, solar photovoltaic panel manufacturing, and industrial gas supply sectors.

M and A Securities Sdn Bhd serves as the principal adviser, sponsor, underwriter, and placement agent for the IPO, with Eco Asia Capital Advisory Sdn Bhd as the financial adviser.