Interior fit-out specialist Inspace Creation Bhd is aiming to raise RM17.13 million from its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia, scheduled for May 8, 2026.
The IPO involves the issuance of 68.5 million new shares at an issue price of 25 sen each.
Of the total proceeds, RM6 million will be allocated towards setting up a new storage and mock-up facility, RM4.39 million for working capital, RM2.74 million for the repayment of bank borrowings, and RM4 million to cover listing expenses.
Executive director Wong Chong Siong said the company’s immediate focus post-listing is to strengthen its core corporate segment while pursuing larger-scale projects. He added that Inspace is also expanding into other commercial segments by collaborating with developers on show units, sales galleries and ongoing developments, as well as tendering for projects in the commercial and hospitality sectors.
Looking ahead, the group plans to broaden its project portfolio over the next one to two years, including venturing into government-related projects.
On the impact of global geopolitical tensions, Wong said the company has not experienced any significant disruption to its operations, as it primarily focuses on commercial office spaces. He noted that demand remains resilient, even during challenging periods, citing the group’s ability to secure projects during the COVID-19 pandemic as offices continued to undergo restructuring and upgrades.
He also highlighted that the company is not directly involved in construction and benefits from a diversified material base, reducing reliance on any single cost component. This allows Inspace to adjust materials and apply value engineering when necessary to meet client requirements.
Meanwhile, executive director Edward Cheong Han Bin said one of the key challenges faced by the company is balancing client expectations with tight timelines and budget constraints. He noted that most projects have a duration of eight to 12 weeks on-site, requiring efficient delivery while meeting design specifications and cost requirements.
Applications for the IPO opened today and will close at 5pm on April 22, 2026.
TA Securities Holdings Bhd has been appointed as the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.
