SumiSaujana Group Berhad (“SumiSaujana” or the “Company”) and its subsidiary (“Group”), an established manufacturer of oil and gas (“O&G”) specialty chemicals, is pleased to announce the successful completion of the balloting process for its Initial Public Offering (“IPO”) with 1.85 times in oversubscription, in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
From (L-R): Mr. Ankur Khandelwal, Director/ Regional Head, Equity Capital Markets and Syndication, RHB Investment Bank Berhad; Mr. Ramli Bin Mohamad, Executive Director/ Chief Operating Officer, Sumisaujana Group Berhad; Mr. Norazlam Bin Norbi, Executive Director/ Chief Executive Officer, Sumisaujana Group Berhad; Mr. Liang Kok Siang, Independent Non-Executive Chairman; Pn. Lily Rozita Binti Mohamad Khairi, Independent Non-Executive Director; Mr. Toh Chee Seng , Executive Deputy Chairman, Sumisaujana Group Berhad; Mr. Stanley Lee, Director, Corporate Finance, RHB Investment Bank Berhad.
The IPO exercise comprises:
(i) A public issue of 310,000,000 new shares (“Issue Shares”), allocated as follows:
· 72,500,000 Issue Shares made available for application by the Malaysian public via balloting, with 36,250,000 Issue Shares specifically allocated to Bumiputera investors;
· 24,400,000 Issue Shares allocated to eligible directors, employees, and persons who have contributed to SumiSaujana’s success via Pink Form allocations;
· 122,649,800 Issue Shares allocated to identified institutional and selected investors via private placement; and
· 90,450,200 Issue Shares allocated to Bumiputera investors approved by Ministry of Investment, Trade and Industry, Malaysia (“MITI”).
(ii) An offer for sale of up to 90,000,000 existing shares (“Offer Shares”) by the selling shareholders via private placement to identified Bumiputera investors approved by MITI.
SumiSaujana’s public offering received a favourable response from investors. A total of 5,512 applications for 206,640,400 shares, representing a total value of RM49,593,696 were received from the Malaysian public, representing an overall oversubscription rate of 1.85 times. The Bumiputera portion recorded an oversubsInsert descriptioncription rate of 1.23 times, while the other Malaysian public portion saw an oversubscription of 2.47 times.
In addition, the 24,400,000 Issue Shares made available for application by the eligible persons via the Pink Form Allocations have been fully subscribed.
The Sole Placement Agent has confirmed that the 122,649,800 Issue Shares by way of private placement to identified institutional and selected investors were fully subscribed.
The Sole Placement Agent has also confirmed that 90,450,200 Issue Shares and offer for sale of 90,000,000 Offer Shares by way of private placement to identified Bumiputera investors approved by the MITI, have been fully taken up after applying the relevant clawback and reallocation provisions as set out in Sumisaujana’s Prospectus dated 13 March 2025.
Encik Norazlam Bin Norbi, Executive Director/ Chief Executive Officer of SumiSaujana Group Berhad, commented, “The favourable demand for our IPO underscores investors’ confidence in SumiSaujana’s business model, industry expertise, and growth trajectory. We are deeply grateful for the trust placed in us, and we remain committed to deliver high-quality specialty chemical solutions to support the O&G industry and the industrial specialty chemicals industry. With the funds raised, we will further strengthen our operations, enhance production capacity, and expand our market presence to create sustainable value for our stakeholders ensuring long-term business growth.”
With the strong investor reception, robust market positioning, and well-defined expansion strategies, SumiSaujana is poised to solidify its leadership in the O&G specialty chemicals industry and drive sustained business growth.
RHB Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for SumiSaujana’s IPO.
