ASM Automation Group Berhad IPO's Analysis

ASM Automation Group Berhad

ASM Automation Group Berhad is specializes in automation machinery solutions, primarily catering to the F&B manufacturing industry. The company designs, develops, fabricates, installs, tests, and commissions machinery that automates both manufacturing (front-of-line, or FOL) and packaging (end-of-line, or EOL) processes. Its FOL solutions are used in producing snacks, confectionery, and cereals, while EOL solutions support the packaging of these and other products, including coffee, flour, currency notes, and poultry. ASM provides end-to-end support, from custom design and programming to module integration and testing. Beyond automation, the company offers complementary technical support services like maintenance, modifications, and spare parts supply, and can create custom-built equipment when needed. The company delivers advanced manufacturing automation to a wide range of industries, serving clients both locally and internationally. ASM was incorporated in 2024 and headquartered in Ipoh, Perak, Malaysia.

IPO Details
Market: ACE
Principal Adviser: M & A Securities Sdn Bhd
Issuing House: Malaysian Issuing House (MIH)
Shariah Status: SC (Yes)
Listing Price: 0.17
PE Ratio: 12.8-28.7
    PE (FYE): 12.80
    PE (FPE Annualised): 26.53
    PE (Hybrid): 28.71
MITI allocation?: Yes
Closing Date: 19-Jun-2025
Balloting Date: 23-Jun-2025
Listing Date: 02-Jul-2025
Oversubscription rate: 2.27x
Average Analysts FV :
Mplus (0.21), TA (0.18), Public Invest (0.19)
iSaham IPO Score :
Market Cap: 90.91 M
Number of Shares: 534.76 M
IPO Allocations No. of Shares %
Malaysian Public 26.74 M 5.0%
Bumiputera shareholders approved by MITI 66.85 M 12.5%
Eligible Directors and employees 10.696 M 2.0%
Private placement to selected investors and others 77.539 M 14.5%
Total Allocations 181.82 M 34.0%

Offer for Sales of 53.48 M existing shares representing 10.0% enlarged shares.

Public Issue of 128.34 M new shares representing 24.0% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Acquisition of land and construction of a new factory 11,400 52.2
Expansion Purchase of machines, equipment and components for the assembly of demonstration machinerie 2,300 10.5
Working capital Working capital 1,918 8.8
Others D&D activities 2,000 9.2
Listing expenses Estimated listing expenses 4,200 19.3
Total 21,818 100
Analyst Highlights
Date Analyst Highlights
18-Jun-2025
Public Invest
  • Strong design and development (D&D) capabilities fuel expansion into diverse automation solutions beyond F&B sector.
  • Driving growth through expansion and innovation, including building a new factory and enhancing D&D.
11-Jun-2025
TA
  • ASM plans to acquire a new factory to streamline fabrication and assembly activities through an improved workflow.
10-Jun-2025
Mplus
Utilisation of Proceeds
Business Segments
Geographical Segments
Major Customers
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
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