MM Computer Systems Bhd (MMCS) which is enroute to a listing on the ACE Market of Bursa Malaysia on June 11 has its Malaysian public portion of its initial public offering (IPO) oversubscribed by 42.12 times.
The Malaysian enterprise IT solutions provider received a total of 15,363 applications for 1.22 billion shares for the 28.35 million shares made available under its public portion.
For its Bumiputera public portion, the group received 6,358 applications for 365.81 million shares which represent an oversubscription rate of 24.81 times.
For the non-Bumiputera public portion, MMCS received 9,005 applications for 856.74 million shares or an oversubscription rate of 59.44 times.
The group’s IPO comprises a public issue of 119 million new shares and an offer for sale of 47.34 million existing shares at an IPO price 22 sen/share.
The public issue is expected to raise gross proceeds of approximately RM26.18 mil, of which RM16.93 mil has been earmarked for the procurement of IT hardware and software.
The balance will be channelled towards workforce expansion and capability development (RM3.10 mil), partial repayment of bank borrowing (RM1.50 mil) and estimated listing expenses (RM4.65 mil).
Upon listing, MMCS will have an enlarged issued share capital of 56 million shares with a market capitalisation of approximately RM124.74 mil based on the IPO price of 22 sen/share.
“This response reflects investors’ recognition of MMCS’ operating track record, customer- focused execution and role in supporting enterprise IT environments across IT infrastructure, networking and cybersecurity solutions,” enthused MMCS’ managing director and CEO Macken Young Yoong Chang.
“The IPO proceeds will further strengthen our project execution capability, support the expansion of our technical workforce, and enhance our ability to serve GLCs and enterprises with increasingly complex IT infrastructure and cybersecurity requirements.”
Added Young: “As we approach our listing, our focus remains on disciplined execution, service quality and building MMCS as a resilient enterprise IT solutions provider over long term.”
Through its wholly-owned subsidiaries, Micro Technology Solution Sdn Bhd and SMIND Sdn Bhd, MMCS supports mission-critical enterprise IT environments across IT infrastructure, networking and cybersecurity solutions in the utilities, financial services, telecommunications and transportation sectors, among others.
The group’s service offerings are complemented by recurring maintenance, technical support and IT outsourcing services, including resident engineers embedded within customer environments under ongoing service contracts.
Its multi-brand capabilities allow MMCS to customise enterprise IT solutions based on customers’ operational requirements, security considerations and budget priorities.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the group’s IPO exercise while SCS Global Advisory (M) Sdn Bhd is the corporate finance adviser. – May 29, 2026
