KUALA LUMPUR (Feb 12): OGX Group Bhd, which provides infrastructure solutions for IT system integration, is seeking to raise nearly RM79 million from its listing on the ACE Market.

The initial public offering (IPO), priced at 35 sen per share, values the company at about RM263 million, according to its prospectus. OGX will get RM52.5 million from the IPO while selling shareholders will together pocket RM26.25 million.

Application is open until March 2 and listing is targeted for March 12.

Based in Shah Alam, Selangor, OGX sells multi-brand products and services focusing on network, cybersecurity and enterprise data centre solutions. The business was founded in 2007 by current chairman Tan Ting Fong and a partner who exited in 2016.

Tan stepped down from his executive role in 2020 and his son Tan Suan Loong now runs OGX as the managing director.

About two thirds of the proceeds from public issue of new shares will be allocated for expansion, including RM30 million for acquisition of a new facility that will become OGX’s future headquarters.

“This new facility will also house our IT infrastructure solutions experience centre as well as our warehouse,” Suan Loong said during the launch of its prospectus.

The company has also set aside RM2.5 million to broaden its portfolio of infrastructure brands and RM2 million for expansion to East Malaysia with new sales offices. The remaining RM18 million will go towards the repayment of bank borrowings, working capital requirements and listing expenses.

Under the public issue, 37.5 million shares will be made available to the Malaysian public, and 18.75 million shares will be allocated to eligible persons. The IPO will also see private placement of 18.75 million shares to Bumiputera investors and 75 million shares to institutional and select investors.

All in all, the listing offers investors up to a 30% stake in the company that made a net profit of RM15.31 million on revenue of RM176.31 million in the financial year ended May 31, 2025.

UOB Kay Hian is the principal adviser, sponsor, underwriter and placement agent for the IPO.