IPO Insights

Cheeding Holdings Berhad

Cheeding Holdings Berhad, through its subsidiaries, is primarily involved in providing utilities engineering solutions in Malaysia. Its main activities include the Engineering, Procurement, Construction, and Commissioning (EPCC) and maintenance of overhead and underground power infrastructure, as well as substation engineering services. The company undertakes projects for major utility providers, handling the entire project lifecycle from design and procurement to construction and commissioning of transmission lines, pylon towers, and substations. Its subsidiary, Pembinaan Bukit Cheeding, is the main operational arm for these engineering solutions, while BC Services supplies related electrical and civil engineering services for the group's projects.

IPO Details
Market: ACE
Principal Adviser: TA Securities Holdings Berhad
Issuing House: Malaysian Issuing House (MIH)
Shariah Status: SC (Yes)
Listing Price: 0.36
PE Ratio: 10.91
    PE (FYE): 10.91
    PE (FPE Annualised): -
    PE (Hybrid): -
MITI allocation?: Yes
Closing Date: 23-Sep-2025
Balloting Date: 25-Sep-2025
Listing Date: 07-Oct-2025
Oversubscription rate: 40.87x
Average Analysts FV*:
RHB (0.68), Mplus (0.72), Apex (0.73), Public Invest (0.80)
iSaham IPO Score***:
Market Cap: 287.01 M
Number of Shares: 797.26 M
IPO Allocations No. of Shares %
Malaysian Public 39.86 M 5.0%
Bumiputera shareholders approved by MITI 99.66 M 12.5%
Eligible Directors and employees 8.168 M 1.02%
Private placement to selected investors and others 60.311 M 7.56%
Total Allocations 208.00 M 26.09%

Offer for Sales of 65.00 M existing shares representing 8.15% enlarged shares.

Public Issue of 143.00 M new shares representing 17.94% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Performance bond for future projects 16,150 31.37
Expansion Capital expenditure 3,200 6.22
Working capital Working capital 24,630 47.84
Listing expenses Estimated listing expenses 5,200 10.1
Debt Repayment of bank borrowings 2,300 4.47
Total 51,480 100
Utilisation of Proceeds
SWOT Analysis

Sorry, this feature only available for iSaham Pro