KUALA LUMPUR (Oct 26): MyDCD Bhd has launched its ACE Market listing that will raise RM268.8 million for the engineering services firm and its shareholders.
The initial public offering (IPO) is priced at 56 sen per share, according to its prospectus. The company will get RM187.6 million from the public issue of new shares while a group of eight shareholders will pocket the remaining RM81.2 million from the offer for sale of existing shares.
Applications for the IPO will close on Nov 2 and listing is scheduled for Nov 17.
MyDCD provides mechanical, electrical, plumbing and fire protection focusing on data centres.
At the end of September, the company had outstanding jobs on hand totalling RM1.32 billion that will continue to provide revenue up to 2032.
Growing artificial intelligence adoption has placed higher demands on power and cooling systems in data centres, making the systems that MyDCD specialises in increasingly important, chief executive officer Chris Ow Yong said at the launch of the listing prospectus.
“Accordingly, the IPO proceeds will help us meet these needs by supporting project execution, including performance bonds, as well as strengthening our teams and enhancing our systems to support our continued growth," he said.
The company is allocating RM134 million to fund working capital and performance bonds while RM39.9 million has been earmarked for business expansion, including hiring talent, renting additional office space, and staff training.
MyDCD is setting aside RM5 million for IT systems upgrades and the rest of the IPO funds will be used to defray listing expenses.
At the IPO price, MyDCD will have a market capitalisation of RM1 billion, valuing the company at about 15 times its trailing earnings upon listing. Net profit for the financial year ended June 30, 2026 surged nearly 70% to RM66.8 million while revenue nearly doubled to RM666 million.
The group of shareholders and senior management — Ng Kok Hoong, Kwan Siew Peng, Ng Gek Khoon, Yew Kim Keong, Khairil Husni Azri Mohd Hashim, Ngooi Siew Luan, Hon Mau Hoong, and Wong Kok Fong — are putting up their existing stakes in the company under the IPO's offer for sale.
TA Securities Holdings Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.