Yes Group Management Berhad (“Yes Group” or the “Company”), the operator of the “Yes Travel” brand and a Meetings, Incentives, Conferences, and Exhibitions (“MICE”) specialist principally involved in the provision of customised incentive travel solutions as well as event planning and management solutions, has entered into an underwriting agreement with Malacca Securities Sdn. Bhd. (“Malacca Securities”) in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Pursuant to the underwriting arrangement, Malacca Securities will underwrite 31.80 million new shares, comprising 26.50 million new shares made available for application by the Malaysian Public and 5.30 million new shares made available under the Pink Form allocations.
The Group’s IPO will comprise a public issue of 91.87 million new shares and an offer for sale of 45.93 million existing shares, representing a total IPO offering of 137.80 million shares.
The public issue and offer for sale will comprise as below:
Public Issue
- Malaysian Public:
- 26.50 million shares or 5.00% of the Company’s enlarged issued share capital, with 2.50% made available to public investors and the remaining 2.50% made available to Bumiputera public investors.
- Eligible Persons:
- 5.30 million shares or 1.00% of the enlarged issued share capital will be allocated to eligible directors, employees and persons who have contributed to the success of the Groupthrough Pink Form Allocations.
- Private Placement to Bumiputera Investors:
- 60.07 million shares or 11.33% of the enlarged issued share capital are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”).
Offer for sale
- Private Placement to Bumiputera Investors:
- Offer for sale of 6.18 million shares or 17% of the enlarged issued share capital by way of private placement to Bumiputera investors approved by MITI.
- Private Placement to Selected Investors:
- Offer for sale of 75million shares or 7.50% of the enlarged issued share capital by way of private placement to selected investors.
Ms. Angela Mak Shau Kwan, Managing Director of Yes Group said,
“The signing of the underwriting agreement reflects our continued progress towards the proposed listing of Yes Group. We are encouraged by the support from Malacca Securities as we move towards becoming a publicly listed company. Our focus remains on strengthening our position in corporate incentive travel and MICE solutions, while building the necessary capabilities to support long-term business expansion.”
Ms. Lim Chia Wei, Managing Director of Malacca Securities added,
“We are pleased to support Yes Group in its listing journey. The Company has built a business centred on customised incentive travel and event solutions, serving corporate customers through an end-to-end service model. The IPO will provide the Company with greater visibility and financial flexibility as it pursues its business strategies.”
Yes Group has demonstrated a strong growth trajectory, with revenue increasing by 82.4% from RM41.39 million in FYE 2023 to RM75.47 million in FYE 2025, while PAT rose by 43.0% from RM5.13 million to RM7.34 million over the same period.
This performance is complemented by the positive outlook for Malaysia’s MICE industry, supported by continued corporate demand for incentive travel, strong air connectivity and government initiatives to strengthen Malaysia as a business events destination, providing the Group with further opportunities to build on its growth momentum.
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.
