Kuala lumpur: Teamstar Bhd aims to raise RM34.32 million from its initial public offering (IPO) ahead of its ACE Market listing on Feb 25, 2026. The investment holding company said proceeds from the IPO will be allocated for the establishment of new retail outlets and warehouses (RM23.21 million), working capital requirements (RM4.65 million), and repayment of borrowings (RM1.46 million). Meanwhile, an additional RM5 million will be used to defray fees and expenses related to the IPO listing.
According to BERNAMA News Agency, Teamstar's IPO entails the public offering of 204 million ordinary shares, comprising a public issue of 132 million new ordinary shares and an offer for sale of 72 million existing shares. This collectively represents 25.50 percent of the company's enlarged issued share capital of 800 million ordinary shares. Of the 132 million issue shares, 40 million will be made available for application by the Malaysian public, while 92 million will be offered via private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Additionally, there is an offer for sale of 72 million shares, with 16 million allocated for application by eligible directors and employees of the Teamstar Group, as well as persons who have contributed to the success of the company. The remaining 48 million offer shares will be allocated via private placement to selected investors, and eight million shares will be offered through private placement to identified Bumiputera investors approved by MITI.
Based on the enlarged issued share capital of 800 million shares and an IPO price of RM0.26 per share, Teamstar is expected to have an indicative market capitalisation of RM208 million. Executive vice-chairman and group chief executive officer, Tan Lee Kueng, stated the company's intention to strengthen its market presence by expanding its retail network in Malaysia through the establishment of 10 additional outlets, particularly in Johor, Kedah, Penang, Sabah, and Sarawak.
The application period for Teamstar's IPO opens today and closes at 5 pm on Feb 9, 2026. TA Securities Holdings Bhd serves as the principal adviser, sponsor, underwriter, and placement agent for the IPO.