IPO Insights

PSP Energy Berhad

PSP Energy Berhad, through its subsidiaries, is principally involved in the trading and distribution of fuel and lubricant products in Malaysia. The Group's key business segments include the wholesale trading of fuel products; the distribution of fuel products using its own fleet of road tankers and bunker vessels; and the distribution of both third-party and its own brand of lubricant products. The company has over 13 years of operating history and serves a diverse customer base across industries like wholesale petroleum trading, transportation, logistics, utilities, energy, construction, and manufacturing. Its operations are supported by its own assets, including licensed storage plants, a fleet of road tankers, and bunker vessels for ship-to-ship bunkering services.

IPO Details
Market: ACE
Principal Adviser: Mercury Securities Sdn Bhd
Issuing House: Tricor Investor & Issuing House (TIIH)
Shariah Status: SC (Yes)
Listing Price: 0.16
PE Ratio: 12.00
    PE (FYE): 12.00
    PE (FPE Annualised): -
    PE (Hybrid): -
MITI allocation?: Yes
Closing Date: 21-Nov-2025
Balloting Date: 25-Nov-2025
Listing Date: 04-Dec-2025
Oversubscription rate: 5.87x
Average Analysts FV*:
Mplus (0.20)
iSaham IPO Score***:
Market Cap: 171.01 M
Number of Shares: 1,068.80 M
IPO Allocations No. of Shares %
Malaysian Public 53.44 M 5.0%
Bumiputera shareholders approved by MITI 133.64 M 12.5%
Eligible Directors and employees 48.096 M 4.5%
Private placement to selected investors and others 53.44 M 5.0%
Total Allocations 288.62 M 27.0%

Offer for Sales of 74.82 M existing shares representing 7.0% enlarged shares.

Public Issue of 213.80 M new shares representing 20.0% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Purchase of a bunker vessel 15,000 43.9
Expansion Purchase of 7 new road tankers 1,000 2.9
Working capital Purchase of fuel products 12,000 35.1
Working capital General working capital 1,308 3.8
Listing expenses Estimated Listing expenses 4,900 14.3
Total 34,208 100
Utilisation of Proceeds
SWOT Analysis

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