KUALA LUMPUR (Oct 28): SBS Nexus Bhd, a branding and marketing services firm, said on Tuesday that it has secured regulatory approval for its listing on the ACE Market.
The target is to launch its initial public offering (IPO) by the first quarter of 2026, SBS Nexus said in a statement. The IPO, which will be priced later, involves a public issue of new shares and an offer for sale of existing shares.
“The approval takes us a step closer to our IPO,” said chief executive officer Wong Chun Mun. “This comes at an opportune time as we are ready to take advantage of the vast development opportunities in the branding and marketing industry in Malaysia.”
SBS Nexus is mainly engaged in both offline and digital branding services, including public relations and event management, as well as digital broadcasts, video production, mobile and web-based applications, and website development.
The company also organises business awards and networking events as part of its marketing strategy to generate leads and provide platforms for its customers to drive branding and publicity.
Proceeds from the sale of new shares have been earmarked for the setup of its new headquarters, hiring of new employees as part of its expansion into the Malay market, and marketing activities.
“We also intend to further grow our mobile and web-based applications, and website development business, to capture opportunities arising from the demand for digitalisation,” Wong said. The company is also setting aside some funds for repayment of borrowings and as working capital.
Proceeds from the sale of existing shares meanwhile will go to Wong, executive director Piah Yee Ling, chief operating officer Warren Cheng, head of digital Lai Kian Chuan, chief business officer Lim Cheng Yong and substantial shareholder Foo Woon Yew through his wholly-owned private vehicle Alphabets Assets Sdn Bhd.
M&A Securities Sdn Bhd is the sole adviser, sponsor, underwriter and placement agent for the IPO.