Johor: End-to-end piping solutions provider ISF Group Bhd is poised to raise RM61.15 million through its initial public offering (IPO) as it prepares for its listing on the ACE Market of Bursa Malaysia on January 28, 2026. Managing director Jeff Ai Boon Chen announced the company's plans to allocate RM11.4 million towards establishing and expanding its operational facilities. "We will be constructing a new head office and storage facility in Johor," Ai stated, highlighting the company's strategy during a press conference held in conjunction with the group's prospectus launch event.

According to BERNAMA News Agency, the group plans to set up new offices in the Central Region, either in Selangor or Negeri Sembilan, and in the Northern Region in Penang. The establishment of the Central Region office is scheduled to start in the second quarter of this year. Ai mentioned that the group intends to enhance its existing business activities by acquiring new plants and machinery, reducing its reliance on rentals.

The company's IPO exercise involves a public issue of 185.3 million new ordinary shares, representing 18.53 percent of its enlarged issued share capital. It also includes an offer for sale of 90 million existing shares, accounting for nine percent of its enlarged issued share capital. Of the 185.3 million issue shares, 50 million will be available to the Malaysian public through balloting, while 15 million will be allocated to eligible directors, employees, and contributors to the group's success through a pink form allocation.

Additionally, 35 million issue shares will be offered via private placement to selected bumiputera investors approved by the Ministry of Investment, Trade and Industry of Malaysia (MITI), and the remaining 85.30 million will be available through private placement to selected investors. All 90 million offer shares will also be available through private placement to selected bumiputera investors approved by MITI.

Upon listing, ISF Group will have a market capitalization of RM330 million, based on its enlarged issued share capital of 1.0 billion shares and an IPO price of RM0.33 per share. Following the prospectus launch, applications for the public issue are open from today and will close at 5:00 pm on January 14, 2026. Alliance Islamic Bank Bhd is serving as the principal adviser, sponsor, sole underwriter, and placement agent for this IPO exercise.