IPO Insights

Geohan Corporation Berhad

Geohan Corporation Berhad, through its subsidiaries, is principally involved in the provision of foundation and geotechnical services, as well as other related construction services in Malaysia. The Group's services focus on activities below ground level, providing stable foundations for buildings and infrastructure. Its offerings include a comprehensive range of foundation works such as piling (bored, caisson, micropile), earth retaining structures, and sub-structure works. It also provides geotechnical services like slope stabilisation and ground improvement. Additionally, the Group is involved in hiring out equipment and machinery, and the wholesale of construction materials. The Group was formed through a series of acquisitions and has key operational hubs including a headquarters in Kuala Lumpur and a depot facility in Selangor. It also has a subsidiary incorporated in Singapore, Geohan Pte Ltd, to facilitate expansion into the Singaporean market.

IPO Details
Market: Main
Principal Adviser: Alliance Islamic Bank Berhad
Shariah Status: SC (Yes)
Listing Price: 0.55
PE Ratio: 11.8-16.9
    PE (FYE): 15.11
    PE (FPE Annualised): 11.83
    PE (Hybrid): 16.87
    PE (Latest Qtr): 15.9
MITI allocation?: Yes
Closing Date: 21-Nov-2025
Balloting Date: 28-Nov-2025
Listing Date: 05-Dec-2025
Oversubscription rate: 7.78x
Average Analysts FV*:
Public Invest (0.65), RHB (0.64), TA (0.67), Mplus (0.66)
iSaham IPO Score***:
Market Cap: 242.00 M
Number of Shares: 440.00 M
IPO Allocations No. of Shares %
Malaysian Public 22.00 M 5.0%
Bumiputera shareholders approved by MITI 55.00 M 12.5%
Eligible Directors and employees 11.0 M 2.5%
Private placement to selected investors and others 44.0 M 10.0%
Total Allocations 132.00 M 30.0%

Public Issue of 132.00 M new shares representing 30.0% enlarged shares.

Median Sectors PE:
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Capital expenditure 40,000 55.1
Working capital Working capital 25,600 35.26
Listing expenses Estimated listing expenses 7,000 9.64
Total 72,600 100
Utilisation of Proceeds
SWOT Analysis

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