ISF ISF Group
Key figures
- IPO price
- RM 0.33
- Day 1 open
- RM 0.50
- Day 1 close
- RM 0.48
- Current price
- RM 0.85
- Day 1 open %
- +51.5%
- Day 1 close %
- +45.5%
- Since listing
- +157.6%
- Oversubscription
- 31.14x
- Market cap
- RM 330.0 M
- Offer size
- 275.3 M
- Enlarged shares
- 1000 M
- Float
- 27.53%
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) | 50 M | 18.2% |
| Bumiputera / MITI | 125 M | 45.4% |
| Private placement | 85.299 M | 31.0% |
| New shares issued | 185.3 M | 67.3% |
| Offer for sale | 90 M | 32.7% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
Through our Subsidia ry, we are principally involved in the supply and installation of piping systems for end -user premises as well as water supply and sewer infrastructure piping. We also provide maintenance and repair services for piping systems.
Source: company prospectus, PDF page 41.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Establish and expand operational facilities | 11,350 | 18.6% |
| Develop the existing business activities | 2,050 | 3.4% |
| Expand workforce | 1,850 | 3.0% |
| Loan repayments | 1,200 | 2.0% |
| Working capital | 39,899 | 65.2% |
| Estimated listing expenses | 4,800 | 7.8% |
Source: company prospectus, PDF page 40.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FPE2025 | 59,516 | 15,178 | 25.50% | 1.52 |
| FYE2022 | 21,573 | 933 | 4.32% | 0.09 |
| FYE2023 | 38,705 | 4,381 | 11.32% | 0.44 |
| FYE2024 | 54,670 | 9,636 | 17.63% | 0.96 |
Latest-FY revenue growth: +41.25%. PE at the IPO price: 34.38. Source: company prospectus (verified excerpts), PDF page 27, 95.
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 +45.5% sits at P75 of its board · This IPO's since-listing of +157.6% sits at P89 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| EIPOWER | 21 May 2026 | RM 0.48 | +14.6% | +86.5% | RM 336.0 M |
| BMS | 08 Dec 2025 | RM 0.22 | -20.4% | -9.1% | RM 338.8 M |
| LEFORM | 30 Nov 2022 | RM 0.23 | -19.6% | -26.1% | RM 340.6 M |
| SORENTO | 28 Oct 2024 | RM 0.37 | +1.4% | +12.2% | RM 318.2 M |
| SUMI | 09 Apr 2025 | RM 0.24 | -25.0% | -62.5% | RM 346.5 M |
| VLB | 31 Jan 2023 | RM 0.33 | +18.2% | +36.4% | RM 311.6 M |
| PMW | 18 Nov 2025 | RM 0.34 | +1.5% | -10.3% | RM 303.3 M |
| CREST | 09 Oct 2024 | RM 0.35 | +0.0% | -41.4% | RM 303.0 M |
Audit
No audit published for this IPO.