KUALA LUMPUR (March 27): Oasis Home Holding Bhd, which sells consumer products through livestream commerce, signed an agreement for MIDF Amanah Investment Bank to underwrite its Bursa Malaysia ACE Market initial public offering (IPO).

Listing is targeted for May 2025, Oasis Home said in a statement. Under the agreement, MIDF will underwrite a total of 35.00 million issue shares allocated to the Malaysian public and eligible persons under pink form allocations, the company said.

“The signing of the underwriting agreement with MIDF (Amanah) Investment marks an important step forward, as we move closer to our debut on the ACE Market of Bursa Securities,” Oasis Home chief executive officer Datuk Teoh Yee Seang said.

Oasis Home mainly sells kitchenware and household products ranging from pots to skincare, and from electric toothbrush to supplements. More than 75% of its revenue comes from live commerce, where the company showcases its products during livestream sessions.

The company carries more than 5,000 active stock keeping units (SKUs) across home and living, beauty and personal care, wellness, and other products under its in-house brands, as well as those sourced from third party suppliers at the end of February 2025.

“This timely listing comes at an opportune time, as consumer accessibility to online sales channels continues to improve, alongside an increasing affluent population, rising spending power, and evolving market trends, are expected to drive further demand for consumer lifestyle products,” Teoh said.

The bulk of the proceeds will be used to set up five additional live commerce sales channels on social media platforms Facebook and TikTok, according to its draft prospectus. The company also plans to hire more than 50 people to support the increase in sales channels, it said.

Further, the company plans to set up its own fulfilment centre in Kuala Langat, Selangor, which will also serve as inventory storage, Oasis Home said, noting that having its own facility will help to cut fees paid to third-party providers amid rising volume.

The proposed IPO involves a public issue of 100 million new shares and an offer for sale of 50 million existing shares at a price to be determined later, the draft prospectus showed. All in all, the listing would offer investors up to a 30% stake in the company, which is based in Puchong, Selangor.

Funds raised from the public issue will also go towards the purchasing of inventories and part-financing the construction of a new headquarters in Sepang. The rest has been earmarked for defraying estimated listing expenses.

Meanwhile, any proceeds from the sale of existing shares will go entirely to Teoh, the sole selling shareholder. Teoh mostly owns Oasis Home together with private vehicle Oasis Management Team Sdn Bhd, and his direct stake in the company will be diluted to 35%.

He will still have another indirect 25% stake via Oasis Management Team, which is also held by Oasis Home’s chief operating officer and his wife Tang Jing Wen, operations manager Fang Chin Shyan @ Puen Chin Shyan, and head of live commerce Chong Hui Ying.

MIDF Amanah Investment Bank is the IPO’s adviser, sponsor, underwriter and placement agent.

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