26-06-2025
iCents Group aims to raise RM27 million from ACE Market IPO
Ong (fourth from left) during the prospectus launch.
KUALA LUMPUR (June 26): Cleanroom and facility services provider iCents Group Holdings Berhad is looking to raise RM27 million from its initial public offering (IPO) on the ACE Market to support its business expansion plans.
The group through its subsidiaries specialises in cleanroom services, covering engineering, procurement, construction, and testing and commissioning of cleanrooms. It also manufactures cleanroom fixtures and related products.
Managing Director Vincent Ong Mum Fei said the company is now ready to enter a new phase of growth after a decade of experience and a proven track record in delivering cleanroom projects for multinational corporations.
He said the proceeds from the IPO will support key initiatives such as purchasing machinery and equipment to boost its in-house manufacturing capabilities, expanding its presence in markets like Indonesia, Singapore, and Sarawak, and meeting working capital needs.
Executive Director Foo Siang Leng said they are confident in the long-term prospects of iCents Group.
He added that growth and investment in data centres and high-value industries such as electronics and electrical, pharmaceuticals and others will continue to drive demand for cleanroom services, which are critical in ensuring product integrity and process reliability in sensitive manufacturing operations.
'With growing demand across these industries, we believe our integrated capabilities position us strongly to grow alongside the nation's technology driven
ambitions,' he said.
As of June 5, 2025, iCents Group recorded an unbilled order book of RM93.21 million, with RM53.53 million from its cleanroom services segment and RM39.68 million from its other facility services segment.
The IPO involves a public issue of 112.5 million new ordinary shares, representing about 22.5 per cent of its enlarged issued share capital, along with an offer for sale of 30 million existing shares, representing about 6 per cent.
Of the RM27 million proceeds, RM4.68 million will be used to purchase machinery and equipment, RM3.02 million for business expansion, RM1.72 million for product development, RM1.5 million for marketing, RM12.09 million for working capital, and RM4 million to cover listing expenses.
Based on the IPO price of RM0.24 per share and an enlarged issued share capital of 500 million shares, iCents Group will have a market capitalisation of RM120 million upon listing.
Following the launch of the prospectus, applications for the public issue opened on Wednesday and will close on July 2 at 5pm.
The company is scheduled to be listed on the ACE Market of Bursa Securities on July 17.
Alliance Islamic Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO. corporate news iCents Group Holdings Berhad IPO prospectus launch
