MyDCD Berhad targets RM187.6 million in ACE Market IPO

MyDCD Berhad is targeting gross proceeds of RM187.6 million through its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia on November 17. The offering involves the issuance of 335 million new shares priced at 56 sen per share. An additional 145 million existing shares will be offered via private placement, which is expected to raise RM81.2 million for current shareholders.

CEO Chris Ow Yong stated that over 90 percent of the IPO proceeds will be utilized for business expansion, working capital, and recruitment. Approximately 8 percent will be allocated to listing expenses and information technology improvements. Following the listing, MyDCD is projected to have a market capitalization of approximately RM1 billion.

The company, which provides mechanical, electrical, plumbing, and fire protection (MEPF) engineering services for data centers, expects growth driven by the digital economy and increased demand for AI infrastructure. MyDCD plans to explore new locations within Malaysia to capitalize on the expanding data center sector.