KUALA LUMPUR, Express Powerr Solutions (M) Bhd, a generator rental services provider, is set to debut on the ACE Market of Bursa Malaysia on Sept 24, 2025, with plans to raise RM36 million from its initial public offering (IPO).
Priced at 20 sen per share, the listing will give the company a market capitalisation of RM186.9 million, based on its enlarged issued share capital of 934.4 million shares.
From left: Express Powerr Solutions (M) Bhd non-independent executive director Rosli Jonid, Express Powerr managing director Lim Cheng Ten, Express Powerr independent non-executive chairman Datuk Mohd Redza Shah Abdul Wahid, Mercury Securities Sdn Bhd director Jamieson Chew Yen Loong and Mercury Securities head of corporate finance Eric Chong Soo Keng.
Managing director Lim Cheng Ten said the funds raised will be used to expand the company’s generator fleet by at least 36 units and acquire medium- and high-voltage equipment to support growth over the next three years.
He added that while Tenaga Nasional Bhd remains the company’s largest revenue source, its contribution has fallen to 60% in 2024 from 95% previously. With 27 oil and gas projects worth RM4.46 billion approved in the first nine months of 2024, Express Powerr expects stronger demand for generator sets in exploration and drilling activities.
To reward investors, the company has introduced a dividend policy of distributing 30% to 50% of net profit. Lim noted that while Express Powerr has ventured into solar, it remains at an early stage and is not a near-term focus.
The IPO will comprise 180 million new shares, representing 19.3% of the enlarged share capital, along with an offer for sale of 65.4 million existing shares.
