Cleanroom and other facility services provider, iCents Group Holdings Berhad (“iCents Group”) has successfully launched its prospectus today in conjunction with its initial public offering (“IPO”) exercise and listing on the ACE Market of Bursa Malaysia Securities Berhad (“Listing”) (“Bursa Securities”).
iCents Group, through its subsidiaries (collectively, the “Group”), is principally involved in the provision of cleanroom services, covering engineering, procurement, construction, and testing and commissioning (“EPCC”) of cleanrooms. The Group also manufactures cleanroom fixtures and related products.
In addition to its cleanroom expertise, the Group provides a range of other facility services, including the hook-up of machinery and equipment, supply and installation of heavy-duty ceiling systems, construction services, and maintenance services for other facilities. The Group’s services cater to highly technical industries including but not limited to, semiconductor and electronics, data centres, life sciences, and pharmaceutical product manufacturing.
Managing Director of iCents Group, Ir. Ts. Vincent Ong Mum Fei said, “The launch of our prospectus today marks a significant milestone for iCents Group, underscoring our commitment to growth and excellence. With a decade of experience and a proven track record in delivering cleanroom projects for several multinational corporations, we are ready to embark into a new phase of our growth journey and strengthen our market presence. The IPO proceeds will support key initiatives towards our business expansion plans including the purchase of machinery and equipment to enhance our in-house manufacturing capabilities, strengthening and expanding our presence across foreign geographical markets such as Indonesia, Singapore, and Sarawak, as well as the funding for working capital requirements.”
Executive Director of iCents Group, Mr. Foo Siang Leng said, “We are confident in the long-term prospects of iCents Group. Growth and investment in data centres, and high-growth, high-value industries such as electronics and electrical (“E&E”), pharmaceutical and others will continue to drive demand for cleanroom services, which play a critical role in ensuring product integrity and process reliability in sensitive manufacturing operations. Malaysia is accelerating its efforts to transform its industrial landscape and attract high-value investments, through initiatives such as the New Industrial Master Plan 2030 and the RM25 billion National Semiconductor Strategy. With growing demand across these industries, we believe our integrated capabilities position us strongly to grow alongside the nation’s technology driven ambitions”.
As at 5 June 2025, the Group recorded an unbilled order book of RM93.21 million, comprising RM53.53 million from the Group’s cleanroom services segment and RM39.68 million from the Group’s other facility services segment.
The expected RM27.00 million IPO proceeds to be raised are set to be utilised in the following manner:
| Utilisation of IPO Proceeds | RM’000 | % |
| Purchase of machinery and equipment | 4,675 | 17.31 |
| Business expansion | 3,022 | 11.19 |
| Product development | 1,715 | 6.35 |
| Marketing activities | 1,500 | 5.56 |
| Working capital | 12,088 | 44.77 |
| Estimated listing expenses | 4,000 | 14.82 |
| Total | 27,000 | 100.00 |
iCents Group’s IPO exercise encompasses a public issuance of 112.50 million new ordinary shares (“Issue Shares”), representing approximately 22.50% of its enlarged issued share capital upon Listing, as well as an offer for sale of 30.00 million existing shares (“Offer Shares”), representing approximately 6.00% of its enlarged issued share capital.
Out of the Public Issue of 112.50 million Issue Shares, 25.00 million Issue Shares will be made available to the Malaysian public via balloting; 10.00 million Issue Shares will be made available to its eligible directors, employees and persons who have contributed to the success of the Group; 15.00 million Issue Shares will be made available by way of private placement to selected investors, while the remaining 62.50 million Issue Shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry. Additionally, all 30.00 million Offer Shares to be offered for sale, will be offered to selected investors by way of private placement.
In terms of financial performance, the Group’s revenue increased from RM55.78 million in the financial year ended 30 June 2022 (“FYE 2022”) to RM80.70 million in the financial year ended 30 June 2024 (“FYE 2024”). Over the same period, the Group’s profit after tax (“PAT”) rose from RM2.90 million to RM7.02 million, representing a compound annual growth rate of 55.57%. For the six-month financial period ended 31 December 2024 (“FPE 2025”), the Group recorded a revenue of RM43.93 million and PAT of RM5.03 million.
iCents Group will have a market capitalisation of RM120.00 million upon Listing based on an enlarged issued share capital of 500.00 million shares and an IPO price of RM0.24 per Share.
Following the prospectus launch, applications for the public issue are open from today and will be closed on 2 July 2025 at 5:00 pm. The Group is scheduled to be listed on the ACE Market of Bursa Securities on 17 July 2025.
Alliance Islamic Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO exercise.
