KUALA LUMPUR (April 13): Inspace Creation Bhd, an interior fit-out services firm, is seeking to raise funds totalling RM24 million for expansion and its shareholders from listing on the ACE Market.
The initial public offering (IPO), priced at 25 sen per share, will raise RM17.1 million for the company and another RM7.3 million for its two executive directors, according to the prospectus launched on Monday.
Applications will close on April 22 and the listing is scheduled for May 8.
Inspace Creation's primary business involves providing interior fitting-out services, which include project planning and management, design conceptualisation and build, as well as servicing and maintenance works.
The company, based in Kuala Lumpur, had an unbilled order book of RM30.28 million as at March. At the IPO price, Inspace Creation is valued at RM92.33 million.
Inspace Creation is setting aside RM6 million from the proceeds of public issue for setting up storage and mock-up space for clients across the Klang Valley. The company also earmarked RM2.74 million to repay bank loans, RM4.39 million for working capital and RM4 million to cover listing expenses.
“We intend to leverage our listing status to gain wider recognition, allowing us to secure larger commercial projects and expand our footprint into regional markets beyond the Klang Valley,” said executive director Wong Chong Siong.
Wong and Conceptual Holdings Sdn Bhd, a private vehicle in which he controls 80%, will pocket the proceeds from the offer for sale of existing shares. The remaining 20% of Conceptual Holdings is held by Edward Cheong Han Bin who co-founded Inspace Creation with Wong.
The public issue of new shares offers up to 18.55% of Inspace Creation while the offer for sale represents another 7.93% of the company. All in all, the IPO offers up to 26.48% of Inspace Creation that made RM8.38 million in net profit on revenue of RM78.60 million for the year ended November 2025.
TA Securities is serving as the principal adviser, sponsor, sole placement agent, and sole underwriter for the IPO.