KUALA LUMPUR (Jan 6): Waste management services provider 5E Resources Holdings Bhd has received approval from Bursa Malaysia for its listing on the ACE Market.
The Johor-based company targets to list in the second quarter of 2026.
"As we progress towards our ACE Market listing, we remain focused on expanding our operational capabilities, strengthening our recovery and recycling technologies, and supporting Malaysia’s transition towards a circular economy,” 5E Resources chief executive officer Lim Te Hua said in a statement.
Through its subsidiaries, 5E Resources provides scheduled waste management services, including testing, collection, recovery and recycling. The group also trades in chemicals and recovered products, and manages 34 of the 77 regulated scheduled waste categories.
The company operates multiple licensed facilities in Johor and plans to expand into Perak with proceeds from the IPO, supported by an in-house accredited laboratory and research and development capabilities.
The new scheduled waste management facility in Batang Padang, Perak, is estimated to cost RM110.66 million, including machinery and equipment.
The IPO comprises 304.5 million new shares and an offer for sale of 154 million existing shares, representing 29.8% of the enlarged 1.54 billion shares upon listing.
Proceeds from the sale of existing shares will go to GreenEdge Sdn Bhd, the sole offeror, which is jointly controlled by chairperson Loo Sok Ching, 5E Resources shareholders Wong Kim Fatt and Ban Kim Wah, Lim Te Hua, and chief operation officer Shankar Narasingam.
TA Securities Holdings Bhd is acting as the principal adviser, sponsor, underwriter and placement agent for the IPO.