KUALA LUMPUR (July 7): Pixlr Group Bhd, a developer of AI-powered creative software, is planning to list its shares on the ACE Market of Bursa Malaysia to fund its expansion.

According to its draft prospectus filed with Bursa Malaysia, the initial public offering will comprise 279 million shares, representing 27.22% of the group's enlarged issued share capital of 1.025 billion shares.

The institutional offering consists of 217.5 million shares — 125.5 million new shares and 92 million existing shares — to be priced via bookbuilding. The retail offering comprises 61.5 million new shares, of which 51.25 million shares will be allocated to the Malaysian public through balloting. The remaining 10.25 million shares are reserved for eligible directors, employees and persons who have contributed to the group.

Pixlr develops AI-powered creative software, including Pixlr, Designs.ai and Vectr, and operates in Singapore and Malaysia. The group derives most of its revenue from subscription fees for its software, with paying subscribers in about 160 countries, mainly across the Americas, Europe and Asia Pacific.

The IPO proceeds will be used to expand its AI-powered creative software offerings, enhance existing applications and platform capabilities, strengthen marketing activities and resources, and fund working capital.

For the financial year ended Dec 31, 2025 (FY2025), the group's net profit rose 20.97% to RM12.32 million from RM10.19 million a year earlier, while revenue increased 18.72% to RM37.53 million from RM31.61 million, driven mainly by higher subscription revenue from its AI-powered creative software segment.

The company is controlled by Littleedge Sdn Bhd, the investment vehicle of group chief executive officer Stephanie Sitt and executive director Andy Sitt. Its current 41.77% stake will lower to 34.15% post-listing.

AmInvestment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.