MyDCD IPO oversubscribed 36.46 times ahead of Bursa Malaysia listing

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MyDCD IPO oversubscribed

Highlights

MyDCD's ACE Market IPO was oversubscribed 36.46 times, with applications for 3.36 billion shares worth RM1.88 billion for 89.7 million retail shares.
The IPO, priced at 56 sen per share, raised RM187.6 million through the issue of 335 million new shares and RM81.2 million through the sale of 145 million existing shares.
IPO proceeds will fund working capital (RM134 million), business expansion (RM39.9 million), IT upgrades (RM5 million) and listing expenses (RM8.7 million).

This article was translated from the original. Read the original version by our correspondent here.

Application details and IPO structure

As reported by The Edge Malaysia, citing Bursa Malaysia filings, MyDCD received applications for 3.36 billion shares worth RM1.88 billion for the 89.7 million shares allocated to retail investors. The Malaysian public portion was oversubscribed 36.46 times, with oversubscription rates of 24 times for the Bumiputera quota and 48.92 times for the non-Bumiputera quota.

In addition, all 36 million shares allocated to eligible directors, employees and other eligible persons were fully subscribed. All 354.3 million shares offered to selected investors and Bumiputera investors approved by the Ministry of Investment, Trade and Industry were also fully placed.

Successful applicants will receive allocation notices by 12 Nov at the latest. The IPO, priced at 56 sen per share, comprises a public offering of 335 million new shares to raise RM187.6 million for the company, as well as an offer for sale of 145 million existing shares, which will generate RM81.2 million for the selling shareholders.

Use of proceeds and implications for the data centre sector

Of the proceeds raised by the company, RM134 million is allocated for working capital, primarily to support project execution and performance bonds, while RM39.9 million will go towards business expansion. A further RM5 million is allocated for information technology upgrades, and the remaining RM8.7 million will cover listing expenses.

MyDCD provides mechanical, electrical, plumbing and fire protection engineering services, with a primary focus on data centres. Strong demand for the IPO reflects market interest in companies exposed to Malaysia's data centre infrastructure supply chain, as the company prepares to list with a market capitalisation of approximately RM1 billion.

TA Securities Holdings Bhd is acting as the IPO's principal adviser, sponsor, underwriter and placement agent.

In our earlier coverage of the approval of 27 data centre projects under the Data Centre Task Force (DCTF) through July 2026, we examined the scale of investment, the distribution of projects by state and their implementation status. We also discussed the impact on the skilled labour market, including the minimum local content requirement of 30% and regular monitoring to ensure compliance and skills transfer.

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