Signature Alliance Group gains 12.9% on ACE listing

Thursday 08 Oct 2026

Make The Edge Malaysia your preferred source on Google

KUALA LUMPUR (June 5): Shares of Signature Alliance Group Bhd (KL:SAG) rose in its first trade on the ACE Market, after the interior fit-out firm raised some RM161 million ahead of its listing.

Signature Alliance opened at 68 sen, versus its initial public offering (IPO) price of 62 sen per share. The stock swung between a low of 67 sen and a high of 72 sen, before ending the day with a 12.9% gain at 70 sen — the highest percentage gain among new listings since Feb 18 this year. Trading volume totalled 90.9 million shares. At its latest price, the company has a market capitalisation of RM700 million.

The debut is the latest sign of a turnaround in investor sentiment from recent first-day flops amid global market turmoil, after many IPOs saw limited investor interest during their order-taking period.

Signature Alliance’s own IPO received just enough applications from retail investors to cover the shares offered, closing with a subscription rate of 1.12 times.

The company houses interior fit-out and renovation subsidiaries spun off from Signature International Bhd (KL:SIGN), mostly known for its kitchen cabinets. Chin Hin Group Bhd (KL:CHINHIN) controls Signature International with a 71.72% stake.

More than half of the proceeds from the IPO have been earmarked for land acquisition, and construction of a 50,000-square-foot production facility adjacent to its new headquarters in Selangor.

Signature Alliance will also use part of the proceeds to expand its Penang office and open a new branch in Johor. The rest will go towards repayment of bank loans for machinery and equipment, as working capital, and to cover listing expenses.

M&A Securities is the adviser, sponsor, managing underwriter, joint underwriter and joint placement agent for the IPO. Affin Hwang Investment Bank is also an underwriter and placement agent.

Edited ByJason Ng & Tan Choe Choe

Text Size