KEB IPO Public Issue Fully Subscribed Ahead Of ACE Market Listing
KUALA LUMPUR, Nov 4 (Bernama) -- KEB Bhd's public portion of its initial public offering (IPO) has been fully subscribed ahead of its listing on the ACE Market of Bursa Malaysia on Nov 16, 2026.
Managing director Datuk Lim Kim Chong said the positive response reflected investor confidence in the group's business fundamentals, track record and prospects.
"With our ongoing developments, future pipeline and landbank, we believe KEB is well positioned to continue building on the foundation we have established over the past two decades,” he said in a statement today.
The property developer’s IPO, comprising 226.78 million shares, includes a public issue of 138.54 million new shares and an offer for sale of 88.24 million existing shares.
Under the public issue, 44.12 million shares, representing 5.0 per cent of the enlarged issued share capital, were allocated to the Malaysian public, while 22.06 million shares (2.5 per cent) were allocated to eligible directors, employees and other contributors to the group.
Another 22.06 million shares (2.5 per cent) were reserved for private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), while 50.30 million shares (5.7 per cent) were allocated to selected investors.
The offer for sale involves 88.24 million existing shares, representing 10 per cent of the enlarged issued share capital, through private placement to Bumiputera investors approved by MITI.
KEB received a total of 2,126 applications for 44.47 million shares from the Malaysian public, comprising 1,071 applications for 27.31 million shares under the Bumiputera portion and 1,055 applications for 17.16 million shares under the other Malaysian public portion.
Proceeds from the public issue would be utilised for landbank acquisition, working capital for project development, repayment of bank borrowings and listing expenses.
The group said the proceeds would strengthen its financial position and support the execution of its medium-term growth strategy.
-- BERNAMA