KUALA LUMPUR (Oct 7): Insights Analytics Bhd, which provides asset management solutions for water and other industries, has issued its prospectus for a planned listing on the ACE Market of Bursa Malaysia later this month.
Priced at 36 sen per share, the initial public offering (IPO) would value the group at RM198 million upon listing, with a price-earnings multiple of 10.4 times based on its net profit of RM19 million for the financial year ended April 30, 2025 (FY2025).
Application for the IPO shares will close on Oct 13, and listing has been scheduled for Oct 27.
Insights Analytics' listing would mark only the third entry into Bursa by a Sarawak-based company this year.
It joins ACE Market-listed construction firm Hartanah Kenyalang Bhd's (KL:HKB) which raised RM19.34 million for its expansion, as well as telco infra outfit Reach Ten Bhd (KL:REACHTEN), which raised RM104 million for its fibre and tower expansion in the first Main Market listing by a Sarawakian company in 15 years.
Insight Analytics is raising RM43.56 million through the issuance of 121 million new shares, representing an enlarged stake of 22% in the company.
The IPO also entails an offer for sale of 27.5 million existing shares, representing a 5% stake worth RM9.9 million which will go to managing director Wee Khiam Hui, executive director Bong Joon Fook and his daughter, chief operating officer Charlene Bong Myn Ee.
All in, the listing offers investors a 27% stake in the company.
Out of the proceeds, RM22.18 million will be allocated to working capital, RM9 million for investments or acquisitions, RM7.47 million to expand its office with a mini data centre, IT operations and a branch in Peninsular Malaysia.
The company was established in May 2003 and undertakes water management across the water utility supply chain, from treatment to distribution, primarily in Sarawak.
It also supplies intelligent asset management solutions for customers in other industries.
The company’s water technology solutions customers mainly comprise water agencies in Sarawak, including the Sarawak Rural Water Supply Department, Sibu Water Board, Laku Management Sdn Bhd and the Kuching Water Board.
The company made a net profit of RM19 million in FY2025, on the back of revenue of RM49.64 million. Its profit after tax margin stood at 38.2%, higher than 21.6% in FY2024 and 11.8% in FY2023.
The company does not have any formal dividend policy.
M&A Securities Sdn Bhd is the sole adviser, sponsor, underwriter and placement agent for the IPO.