Oasis Home prices IPO shares at 28 sen each, expects to raise RM28m
Out of the RM28 million, RM13.7 million (48.93%) is for the expansion of its live commerce sales channels, RM3.6 million (12.86%) for setting up its fulfilment centre and RM4.3 million (15.36%)for working capital.
Additionally, the company will use RM2 million (7.14%) to establish a new headquarters and allocate the remaining RM4.4 million (15.71%) for listing expenses.
The group leverages a mix of online and offline platforms to drive sales and consumer engagement. Its primary digital sales channels include live commerce platforms, its proprietary mobile application, and its website – Oasis Home – which together serve as the group's core e-commerce hubs.
Additionally, Oasis Home extends its digital footprint through e-commerce marketplaces such as Lazada, Shopee, and TikTok Shop.
As part of its digital marketing initiatives, the group employs targeted advertising across social media platforms to boost visibility and connect with a broader audience.
To complement its online presence, the group also integrates an online-to-offline strategy by offering in-person experiences through its product experience centres located in Bukit Jalil, Kuala Lumpur, and Johor Bahru, Johor.
At the launch of the prospectus today, CEO Datuk Teoh Yee Seang said it signals a new chapter of growth for Oasis Home. 'The proceeds from our IPO will play a key role in accelerating our expansion plans, particularly in strengthening our live commerce presence.'
Teoh said it plans to introduce five new live commerce channels across Facebook and TikTok to connect with more customers through real-time experiences. 'In parallel, we will be setting up our fulfillment center to support this growth. This will reduce costs and enhance profit margins as our live commerce footprint expands.'
Looking ahead, Teoh said the live commerce space continues to gain momentum, especially in Southeast Asia, where the market is projected to see strong growth over the next two years.
'Malaysian consumers are among the top three globally in terms of livestream viewership and purchasing activity, with more than half of viewers making purchases during sessions. Our strategic focus on live commerce is aligned with these evolving consumer behaviours, and we are confident in our ability to seize the opportunities ahead and further grow our market presence.'
Teoh said Oasis Home targets to pay at least 30% of its consolidated profit after tax as a dividend, subject to the group's financial position and other financing requirements.
The group's IPO involves the public issuance of 100 million new ordinary shares, representing 20% of the group's enlarged number of issued shares, as well as an offer for sale of 50 million existing shares, or 10% of the enlarged issued share capital.
Of the public issue of 100 million shares, 25 million will be made available to the Malaysian public via balloting and 10 million issue shares to its directors and employees who are eligible to participate in the IPO.
The remaining 62.5 million issue shares and 2.5 million issue shares will be made by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry and to selected investors, respectively.
Select investors will have access to 50 million offer shares through a private placement.
Based on the IPO price of 28 sen per share and its enlarged share capital of 500 million shares, Oasis Home will have a market capitalisation of RM140 million upon listing.
For the financial year ended June 30, 2024, Oasis Home's revenue grew to RM54.82 million from RM40.88 million recorded in the financial year ended June 30, 2022, reflecting a two-year compound annual growth rate (CAGR) of 15.8%.
Notably, the live commerce segment contributed 75.65% of total revenue for FY24.
Over the same period, net profit saw a CAGR of 22.93%, rising from RM5.34 million to RM8.07 million in FY24.
The group is scheduled to be listed on the ACE Market of Bursa Malaysia on May 28.
MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
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