HKB
Key figures
- IPO price
- RM 0.16
- Day 1 open
- RM 0.16
- Day 1 close
- RM 0.145
- Current price
- RM 0.155
- Day 1 open %
- +0.0%
- Day 1 close %
- -9.4%
- Since listing
- -3.1%
- Oversubscription
- 5.33x
- Market cap
- RM 99.2 M
- Offer size
- 198.4 M
- Enlarged shares
- 620 M
- Float
- 32%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % of offer |
|---|---|---|
| Malaysian public (balloting) | 31 M | 15.6% |
| Bumiputera / MITI | 77.5 M | 39.1% |
| Private placement | 71.3 M | 35.9% |
| New shares issued | 120.9 M | 60.9% |
| Offer for sale | 77.5 M | 39.1% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
We are an investment holding company, while our subsidiary, namely Hartanah Construction is principally involved in the following business activities: (i) building construction services, with a focus on institutional buildings such as schools and other public buildings, and other non-residential buildings; and (ii) infrastructure construction services, with a focus on bridges and roads.
Source: company prospectus, PDF page 34.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Purchase of machineries and IT related hardware and software | 3,000 | 15.5% |
| Project working capital | 10,494 | 54.2% |
| Repayment of borrowings | 2,100 | 10.9% |
| Defray fees and expenses relating to our Listing | 3,750 | 19.4% |
Source: company prospectus, PDF page 52.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2021 | 34,070 | 4,814 | 14.13% | 0.96 |
| FY2022 | 50,948 | 6,113 | 12.00% | 1.22 |
| FY2023 | 71,184 | 5,663 | 7.96% | 1.13 |
| FY2024 | 127,588 | 9,206 | 7.22% | 1.84 |
Latest-FY revenue growth: +79.24%. PE at the IPO price: 8.70. Source: company prospectus (verified excerpts), PDF page 183.
Board context: ACE
Across 217 ACE IPOs in the database: median day-1 close +13.5% (P25 +0.0%, P75 +45.7%), median since-listing -8.0%. 71.0% closed day 1 above their IPO price.
This IPO's day-1 close of -9.4% sits at P14 of its board · This IPO's since-listing of -3.1% sits at P54 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| ADNEX | 17 Mar 2026 | RM 0.20 | +25.0% | +125.0% | RM 100.0 M |
| TECHSTORE | 18 Feb 2025 | RM 0.20 | +10.0% | +42.5% | RM 100.0 M |
| ECA | 23 Nov 2022 | RM 0.17 | +344.1% | +2.9% | RM 98.2 M |
| RAMSSOL | 13 Jul 2021 | RM 0.45 | +13.3% | +122.0% | RM 100.4 M |
| VTC | 28 Aug 2024 | RM 0.25 | +62.0% | -6.0% | RM 98.0 M |
| JSSOLAR | 23 Sep 2025 | RM 0.31 | +29.0% | -12.9% | RM 100.8 M |
| SAMAIDEN | 15 Oct 2020 | RM 0.48 | +67.7% | +409.4% | RM 100.8 M |
| TRIMODE | 14 May 2018 | RM 0.61 | -13.9% | -72.1% | RM 101.3 M |
Audit
No audit published for this IPO.