17-07-2025
iCents shares rise 20% on ACE Market debut
From left: iCents independent non-executive director Michelle Marie Maman, independent non-executive director Law Sang Thiam, independent non-executive director Lim Teng Hong, substantial shareholder Faye Khor Fei Yi, managing director Ong Mum Fei (Vincent), executive director Foo Siang Leng, executive director Tan Wei Ying, independent non-executive chairperson Lim Bee Vian, Alliance Islamic Bank Bhd CEO Rizal IL-Ehzan Fadil Azim, Alliance Bank Malaysia Bhd group chief corporate and institutional banking officer Teoh Chu Lin and Alliance Islamic Bank Islamic capital markets head and senior vice-president of corporate finance Tee Kok Wah
KUALA LUMPUR: iCents Group Holdings Bhd commenced trading at a 20.83% premium as it made its debut on the ACE Market of Bursa Malaysia following a successful initial public offering (IPO).
As the buzzer signalled the start of trading, iCents' shares were traded at 29 sen each, five sen above their float price of 24 sen a share, with an opening volume of 13.59 million shares.
iCents, a cleanroom and facilities services provider, is on a growth path, funded by the recent IPO, amid growing investments in data centres and continued expansion in electrical and electronics as well as pharmaceutical industires.
"These sectors require cleanroom environments to maintain strict control over several parameters, which include among others, air quality, temperature, humidity and other conditions that are vital to ensuring product integrity," said iCents group managing director Ong Mum Fei (Vincent).
To support its next phase of growth, iCents is setting up a facility in Mantin, Negeri Sembilan, acquiring machinery and equipment, and recruiting engineers to strengthen its operational capabilities.
The group is also exploring geographical expansion into Jakarta, Singapore and Kuching.
In a recent stock exchange filing, iCents reported it recorded a cumulative revenue of RM62.78mil and profit after tax (PAT) of RM6.88mil in the nine-month period ended March 31, 2025.
After adjusting for the one-off listing expenses amounting to RM1.02mil during the period, adjusted PAT stood at RM7.90mil.
As at June 5, 2025, the group's unbilled order book stood at approximately RM93.21mil.
