RedPlanet Berhad (“RedPlanet” or the “Company”), an enterprise ICT solutions provider specialising in geospatial solutions and intelligent rail solutions, which is set to transfer its listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 22 October 2026, is pleased to announce that the Company’s share allocation to the Malaysian public under its Initial Public Offering (“IPO”) has been oversubscribed by 85.28 times.
RedPlanet’s IPO comprises a public issue of 70,000,000 new ordinary shares (“Issue Shares”), which were made available for application in the following manner:
- 20,540,000 shares available for application by the Malaysian public;
- 19,711,200 shares reserved for eligible directors, employees and persons who have contributed to the success of RedPlanet and its subsidiaries;
- 11,528,600 shares offered by way of private placement to selected investors; and
- 18,220,200 shares offered by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia (“MITI”).
The IPO also involves an offer for sale of 10,000,000 existing shares (“Offer Shares”) by way of private placement to selected investors.
The Company received a total of 7,031 applications for 1,772,208,600 Issue Shares worth approximately RM336.72 million from the Malaysian public, representing an oversubscription rate of 85.28 times.
Meanwhile, the 19,711,200 Issue Shares made available for application by the Eligible Persons have been fully subscribed after applying the relevant clawback and reallocation provisions as set out in the Prospectus. The Placement Agent has also confirmed that the private placement tranches comprising 11,528,600 Issue Shares to selected investors, 18,220,200 Issue Shares to Bumiputera investors approved by MITI, and 10,000,000 Offer Shares to selected investors have been fully placed out.
Mr. Lian Wah Seng, Executive Director/ Managing Director of RedPlanet Berhad commented, “We are encouraged by the response to our IPO, which reflects investors’ confidence in RedPlanet’s business fundamentals, technical capabilities and long-term growth prospects. The support from the investment community strengthens our commitment to further scale our geospatial and intelligent rail solutions, enhance our project execution capabilities and continue delivering technology-driven solutions to customers across critical operational environments.”
He added, “Our transfer listing to the ACE Market marks an important step in RedPlanet’s corporate journey. With a broader public market platform, we aim to strengthen our market visibility, expand our investor base and position the Company for its next phase of growth as an enterprise ICT solutions provider with specialised capabilities in geospatial applications and rail safety technologies.”
Mr. David Lim, Chief Executive Officer of UOB Kay Hian (M) Sdn Bhd said, “The demand for RedPlanet’s IPO highlights investors’ recognition of the Company’s specialised position in the enterprise ICT solutions sector, supported by its capabilities in geospatial solutions, intelligent rail solutions and proprietary rail safety technology. We are pleased to support RedPlanet as it advances towards its ACE Market transfer listing and continues its next phase of growth.”
UOB Kay Hian (M) Sdn Bhd (“UOBKH”) being the Principal Adviser, Sponsor, Underwriter and Placement Agent in conjunction with the IPO and ACE Market transfer listing, has confirmed that the private placement tranches have been fully placed out.
