Kuala lumpur: AMS Advanced Material Bhd (AMSB) aims to raise RM32.77 million from its initial public offering (IPO) via a listing on the ACE Market of Bursa Malaysia on April 23, 2026.
According to BERNAMA News Agency, the supplier of aluminium and copper products stated that RM8.10 million or 24.73 per cent of the total proceeds will be utilised to set up a new licensed manufacturing warehouse in Penang. Additionally, RM6.89 million (21.05 per cent) is allocated for the group's expansion into the manufacturing of aluminium architectural products.
The company further detailed that RM2.50 million, accounting for 7.63 per cent, will be allocated to establish a new distribution point in Kuantan, Pahang. Meanwhile, RM8.16 million, or 24.92 per cent, is earmarked for repaying borrowings, and RM2.67 million, equivalent to 8.15 per cent, will be used for working capital.
The remaining RM4.43 million, representing 13.5 per cent, will cover IPO and listing-related expenses.
At a press conference after launching its prospectus, AMSB managing director Keith Keh Teng Yang highlighted that the group's expansion plans are primarily aimed at boosting capacity to support rising demand from key growth sectors. Keh projected that these initiatives are expected to drive revenue growth of about 10 to 20 per cent.
"We are operating at almost full capacity. The new facilities will allow us to complement and increase our capacities," he stated.
The Penang manufacturing warehouse and Kuantan distribution plant are expected to be fully utilised within 24 months post-listing. Contributions to the group's revenue are anticipated to ramp up within 12 months.
AMSB has been enhancing its value-added aluminium processing capabilities to capture opportunities in the semiconductor and engineering support industry segments, which have recorded significant growth in recent years. Keh emphasized the group's aim to position itself as a one-stop solution provider for these industries by enhancing its processing capabilities, enabling it to secure more projects from existing and new customers.
The company's enlarged share capital will comprise 612 million shares with a market capitalisation of RM177.48 million, based on the IPO price of 29 sen per share on listing. The application for the IPO opens today and closes at 5 pm on April 10, 2026.
M and A Securities Sdn Bhd is serving as the principal adviser, sponsor, underwriter, and placement agent for the exercise.