EcoSys (Malaysia) Berhad (“EcoSys” or the “Company”), an industrial solutions provider serving the pan-semiconductor industry, has entered into an underwriting agreement with M & A Securities Sdn Bhd (“M & A Securities”) in preparation for its initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
EcoSys provides two complementary categories of industrial solutions: ultra-high purity (“UHP”) fabrication of precision engineering components and sub-assembly modules, and the research and development (“R&D”), customisation, assembly, installation, testing, commissioning and maintenance of abatement systems. Its solutions support applications across semiconductor manufacturing equipment, front-end semiconductor production, solar photovoltaic (“PV”) panel manufacturing equipment and industrial gas supply systems.
EcoSys and its subsidiaries (“EcoSys Group” or “Group”) owns the EcoSys brand and the intellectual properties associated with its CDO, Vector, Marathon and Guardian ranges of abatement systems. Most of its proprietary abatement systems designed by its R&D team have been certified as compliant with internationally recognised SEMI(1) and CE(2) standards, while its UHP fabrication operations are supported by ISO(3)certified capabilities and an ISO Class 5 cleanroom at its Simpang Ampat Factory in Penang.
According to the exposed prospectus available on Bursa Securities’ website, EcoSys’ IPO comprises a public issue of 145.70 million new shares, representing approximately 25.5% of the Group’s enlarged issued share capital of 571.35 million shares upon listing. There is no offer for sale under the proposed IPO.
The structure of the IPO is as follows:
Public Issue
- Malaysian Public:
- 28.56 million shares or 5.0% of the Group’s enlarged issued share capital, of which 14.28 million shares will be made available to Bumiputera public investors and the remaining 14.28 million shares to other Malaysian public investors.
- Pink Form Allocations:
- 11.43 million shares or 2.0% of the enlarged issued share capital will be allocated to eligible directors and employees of the Group, as well as persons who have contributed to its success.
- Private Placement to Bumiputera Investors Approved by MITI:
- 71.42 million shares or 12.5% of the enlarged issued share capital will be reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry Malaysia (“MITI”).
- Private Placement to Selected Investors:
- 34.28 million shares or 6.0% of the enlarged issued share capital will be reserved for private placement to selected investors.
Under the underwriting agreement, M & A Securities will underwrite 40.00 million new shares, comprising the shares allocated to the Malaysian public and eligible persons under the Pink Form Allocations. The remaining 105.70 million new shares will be placed out to Bumiputera investors approved by MITI and selected investors by M & A Securities in its capacity as Placement Agent.
The gross proceeds of approximately RM39.34 million to be raised from the Public Issue will be primarily utilised to support EcoSys’ growth strategy, including the expansion of its abatement segment through the purchase of key components and modules for abatement systems. The proceeds will also be used to repay bank borrowings, enhance operational capabilities through investments in machinery and manpower, expand the Group’s presence in the Indian market, fund working capital requirements, and defray the estimated listing expenses.
Mr. Chan Chee Wei, Managing Director of EcoSys said,
“The signing of the underwriting agreement represents another important milestone in EcoSys’ journey towards becoming a publicly listed company. Over the years, we have built our capabilities around technically demanding manufacturing processes where reliability, cleanliness, precision and environmental compliance are essential.
We are pleased to have M & A Securities alongside us in this process, and we appreciate their confidence in our business model, operational track record and growth prospects.”
EcoSys obtained Bursa Securities’ approval for the listing on ACE Market of Bursa Malaysia on 8 June 2026. M & A Securities Sdn Bhd is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for the IPO while Eco Asia Capital Advisory Sdn Bhd is the Financial Adviser.
