KUALA LUMPUR, July 29 (Bernama) -- Oxford Innotech Bhd made a strong debut on Bursa Malaysia’s ACE Market today, opening at 36 sen, a seven sen or 24 per cent premium over its initial public offering (IPO) price of 29 sen.
The Penang-based precision engineering firm saw 9.24 million shares traded at the opening.
Managing director Ng Thean Gin said the listing provides a platform for the company to expand its presence, particularly in the modular building systems, electrical and electronics, and semiconductor sectors.
“We are constructing a new facility at Penang Science Park, with phase one completed two months ago and phase two expected to begin in the first quarter (1Q) of 2026.
“We target to complete construction in the 1Q 2027 and commence operations in the 3Q of the same year,” he said at a press conference held in conjunction with the listing.
The second phase will add 67,722 square feet of production space, bringing the total manufacturing area to 192,896 square feet.
The company raised RM41.6 million through its IPO, with RM23.1 million allocated for the new factory, RM11.2 million for machinery purchases and refinancing, RM3.3 million for working capital, and RM4 million for listing-related expenses.
Asked whether the company has plans to expand overseas, Ng said there are no immediate plans for foreign operations.
Despite that, he said the company is actively seeking international customers through trade shows and exhibitions.
He said the company expects a better performance next year, citing stabilising tariffs and the likelihood of higher capital spending by clients.
“Demand in areas like autonomous driving, data centres, and artificial intelligence continues to drive long-term growth in the sector, and we are optimistic about our role in supporting that demand,” he said.
The strong performance follows recent gains by other IPOs, as investor sentiment improves after a string of underwhelming listings on the ACE Market.
Ahead of its debut, public demand for Oxford Innotech’s shares exceeded the available allocation by more than three times.
-- BERNAMA
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