MTT Shipping seeks up to RM652 mil in Malaysia’s largest logistics IPO in over a decade

Thursday 08 Oct 2026

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KUALA LUMPUR (March 26): MTT Shipping and Logistics Bhd, a Malaysia-based container liner operator, is seeking to raise up to RM652 million via an initial public offering (IPO) on the Main Market of Bursa Malaysia, marking the largest fundraising exercise in the country’s transportation and logistics sector in more than a decade.

The company has opened applications for both retail and institutional investors at an IPO price of RM1.03 per share. The retail tranche will close on April 3, followed by the institutional offering on April 6, ahead of its scheduled listing on April 21.

If fully subscribed, it would be the biggest logistics IPO on Bursa Malaysia since 2013, when AirAsia X Bhd (KL:AAX) raised RM987.7 million and Westports Holdings Bhd (KL:WPRTS) raised RM2.03 billion.

MTT Shipping is principally engaged in container liner shipping services, vessel chartering, container storage, and other related services, with operations spanning key regional markets including Brunei, China, India, Indonesia, Thailand and Singapore.

The company also owns the largest fleet of Malaysian-flagged containerships with an average age of 6.7 years, the youngest fleet among Malaysian operators, as at Sept 1, 2025.

At the IPO price, and based on an enlarged issued share capital of 2.50 billion shares, the group is expected to command a market capitalisation of about RM2.6 billion upon listing.

“We believe the timing for this expansion is appropriate as regional trade continues to evolve, and demand for reliable shipping capacity across key domestic and regional routes remains strong,” MTT Shipping executive chairman Datuk Seri Ong Kean Lee said during the prospectus launch.

MTT Shipping’s IPO would involve the issuance of 633.5 million new shares, comprising an institutional offering of 571 million shares and a retail offering of 62.5 million shares. There will be no offer for sale.

Overall, the listing offers investors up to a 25.3% stake in the company that made a profit after tax of RM253.6 million, on the back of RM1.20 billion revenue for the financial year ended Dec 31, 2024 (FY2024).

A significant portion of the IPO proceeds — about 95.7% — will be channelled towards the acquisition of at least 12 newbuild container vessels, in line with the group’s strategy to expand capacity and strengthen its network coverage. The remaining funds will be utilised for listing-related expenses.

The company has also outlined a dividend policy targeting a payout ratio of at least 50% of net profit annually, subject to working capital requirements and capital expenditure commitments.

CIMB Investment Bank Bhd has been appointed as principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for the IPO. Meanwhile, CLSA Ltd and CLSA Securities Malaysia Sdn Bhd are acting as joint global coordinators and bookrunners, alongside Affin Hwang Investment Bank Bhd as joint bookrunner and underwriter.

Edited ByPresenna Nambiar

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