KUALA LUMPUR (Sept 24): EGH International Bhd is accepting applications for its 360 million shares at 16 sen apiece as the interior fit-out services firm seeks a listing on the ACE Market.
The initial public offering (IPO) will raise RM57.6 million, of which RM38.4 million will go to the company. The remaining RM19.2 million will accrue to the sole selling shareholder Datuk Doh Jee Ming, the managing director of property developer Lagenda Properties Bhd (KL:LAGENDA). Doh will see his stake fall to about 25% post-IPO from 49%.
EGH International is currently led by group managing director Datuk Weslie Lim Yuk Ming and his sister Lim Seow Ni as the chief executive officer.
Based in Puchong, Selangor, EGH International is mainly involved in interior fit-out services and the sale of furniture, fixtures and equipment and building materials. The company has done work for hotels and resorts, healthcare facilities, educational institutions and airport lounges.
EGH International currently has 18 ongoing projects with an outstanding order book of about RM313.49 million to be progressively billed in the financial year ending May 31, 2027 (FY2027) and FY2028.
Based on the IPO price of 16 sen, EGH International will have a market capitalisation of RM160 million, valuing the company at about 15 times the trailing earnings. For FY2026, EGH International’s net profit rose 51% to RM10.9 million while revenue increased 19% to RM187.09 million.
The company has earmarked RM14.4 million to repay borrowings and RM13 million for general working capital. EGH International is also setting aside RM5 million for construction of a new head office, warehouse and showroom in Puchong while the balance of RM6 million will cover listing expenses.
EGH International is expanding its presence in the consumer home-renovation market, which management sees as a largely untapped segment for the group. While EGH has traditionally focused on large-scale interior fit-out projects, it plans to commit more manpower and expertise to grow its retail business.
The group already operates an approximately 11,020 sq ft showroom at its headquarters in Puchong under its Interior Premium Outlet brand, selling furniture, fixtures and equipment (FF&E) and building materials to small-scale contractors, interior designers and property owners. Retail and standalone sales accounted for between 3.89% and 38% of revenue from its FF&E and building-materials segment during the period under review.
EGH plans to reach more homeowners through additional showrooms and a partner-based model involving independent designers, renovators and contractors, who can source products directly from the group for their customers. It is also constructing a new headquarters, warehouse and showroom in Puchong to support the expansion.
The group faces a fragmented and competitive interior fit-out market, ranging from small boutique firms to large local contractors. EGH intends to differentiate itself through its established supplier network and product sourcing capabilities, which it plans to make available to smaller contractors and interior designers targeting the home-renovation market.
Applications for the IPO will close on Oct 5. EGH International is scheduled to list on Oct 16.
Berjaya Securities is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.