WTEC Group Berhad IPO's Analysis

WTEC Group Berhad

WTEC Group Berhad, incorporated in 2024 and headquartered in Kajang, Selangor, Malaysia, specializes in the manufacturing and trading of foam and non-foam products. The company’s extensive product range includes adhesive foam, foam-backed laminates, and non-woven fabrics, serving key industries such as automotive, construction, and electrical and electronics. WTEC also offers value-added services like die-cutting, lamination, and assembly. With a strong presence in Malaysia and Vietnam, the company caters to both direct manufacturers and indirect channels like wholesalers and retailers. Committed to quality and innovation, WTEC leverages its advanced facilities and expertise to deliver customized solutions, supporting diverse industrial applications across domestic and international markets.

IPO Details
Market: ACE
Principal Adviser: Alliance Islamic Bank Berhad
Issuing House: Tricor Investor & Issuing House (TIIH)
Shariah Status: SC (Yes)
Listing Price: 0.25
PE Ratio: 14.62
    PE (FYE): 14.62
    PE (FPE Annualised): -
    PE (Hybrid): -
MITI allocation?: Yes
Closing Date: 15-Apr-2025
Balloting Date: 17-Apr-2025
Listing Date: 29-Apr-2025
Oversubscription rate: 1.61x
Average Analysts FV :
Mplus (0.36)
iSaham IPO Score :
Market Cap: 120.00 M
Number of Shares: 480.00 M
IPO Allocations No. of Shares %
Malaysian Public 24.00 M 5.0%
Bumiputera shareholders approved by MITI 60.00 M 12.5%
Eligible Directors and employees 9.6 M 2.0%
Private placement to selected investors and others 39.768 M 8.29%
Total Allocations 133.37 M 27.79%

Offer for Sales of 43.20 M existing shares representing 9.0% enlarged shares.

Public Issue of 90.17 M new shares representing 18.79% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Purchase and renovation of New Factory 9,425 41.81
Expansion Purchase of new machinery and equipment 3,000 13.31
Expansion Sales and marketing expenses 1,000 4.44
Working capital Working capital 5,117 22.7
Listing expenses Estimated listing expenses 4,000 17.74
Total 22,542 100
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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