Colform Group Berhad IPO's Analysis

Colform Group Berhad

Colform Group Berhad, incorporated in 2023 and headquartered in Malaysia, is a leading manufacturer, processor, and trader of steel products, specializing in downstream steel solutions for the construction industry. The company’s diverse portfolio includes roofing sheets, wall claddings, decorative steel products, IBS steel framing systems, and essential building materials like insulation and fiber cement boards. With over 20 years of experience, Colform has built a reputation for quality, supported by ISO 9001 certification and stringent quality control processes. Backed by a skilled management team and advanced facilities in Sabah, Colform is expanding its reach into Peninsular Malaysia and enhancing capabilities with initiatives like in-house color coil production and ERP system integration. Committed to innovation and customer satisfaction, the company positions itself as a key player in Malaysia’s steel and construction industries.

IPO Details
Market: ACE
Principal Adviser: Mercury Securities Sdn Bhd
Issuing House: Tricor Investor & Issuing House (TIIH)
Shariah Status: SC (Yes)
Listing Price: 0.36
PE Ratio: 11.4-17.5
    PE (FYE): 17.48
    PE (FPE Annualised): 11.38
    PE (Hybrid): 12.05
MITI allocation?: Yes
Closing Date: 23-Jan-2025
Balloting Date: 27-Jan-2025
Listing Date: 10-Feb-2025
Oversubscription rate: 41.82x
Average Analysts FV :
Mplus (0.50), RHB (0.55), TA (0.52), Public Invest (0.45)
iSaham IPO Score :
Market Cap: 216.00 M
Number of Shares: 600.00 M
IPO Allocations No. of Shares %
Malaysian Public 30.00 M 5.0%
Bumiputera shareholders approved by MITI 75.00 M 12.5%
Eligible Directors and employees 6.0 M 1.0%
Private placement to selected investors and others 57.424 M 9.57%
Total Allocations 168.42 M 28.07%

Offer for Sales of 54.00 M existing shares representing 9.0% enlarged shares.

Public Issue of 114.42 M new shares representing 19.07% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Business expansion to Peninsular Malaysia 5,100 12.38
Working capital Working capital 18,093 43.92
Others Setting up colour coil coating production line 9,000 21.84
Others Construction of a storage facility 4,500 10.93
Listing expenses Estimated listing expenses 4,500 10.93
Total 41,193 100
Utilisation of Proceeds
Business Segments
Major Customers
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
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