Mr. Ramli Bin Mohamad
Executive Director/ Chief Operating Officer, Sumisaujana Group Berhad
Mr. Toh Chee Seng 陀志成
Executive Deputy Chairman, Sumisaujana Group Berhad
Mr. Norazlam bin Norbi
Executive Director/ Chief Executive Officer, Sumisaujana Group Berhad
Mr. Kevin Davies
Chief Executive Officer/ Managing Director, RHB Investment Bank Berhad
Mr. Tommy Har 夏荣斌
Director, Head, Corporate Finance, RHB Investment Bank Berhad
SumiSaujana Group Berhad (SumiSaujana) has launched its prospectus for a proposed Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad. This IPO is pivotal for SumiSaujana’s growth, enabling expansion of production capacity and improving market reach.
Founded in 2010, SumiSaujana is a reputable manufacturer of specialty chemicals for the oil and gas sector, focusing on drilling fluid, production, and refinery chemicals. The Group has established long-term partnerships with major oilfield service providers and oil companies globally, with over 70% of its revenue generated from international markets spanning Asia Pacific, Middle East, Africa, Europe, and the Americas.
Through this IPO exercise, SumiSaujana aims to raise RM74.4 million via the issuance of 310.0 million new shares at an issue price of RM0.24 per share. The proceeds from the IPO will be allocated as follows:
- RM40.2 million (54.0%) for the acquisitions of the New Puncak Alam Warehouse and New Puncak Alam Corporate Office to consolidate its operational and warehousing facilities.
- RM18.9 million (25.4%) for the acquisition of its existing Puncak Alam Factory to support long-term operational sustainability.
- RM2.1 million (2.8%) for capital expenditure, supporting enhancements to its facilities.
- RM7.6 million (10.3%) for expansion of R&D division.
- RM5.6 million (7.5%) for listing expenses.
As part of the IPO, an Offer for Sale of up to 90.0 million shares, representing 6.23% of the enlarged share capital, will be available via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). Applications for the IPO open today and will close on 25 March 2025, with SumiSaujana expected to debut on the ACE Market of Bursa Securities on 9 April 2025 at an IPO price of RM0.24 per share, resulting in a market capitalisation of approximately RM346.5 million.
Encik Norazlam Bin Norbi, Executive Director/Chief Executive Officer of SumiSaujana Group Berhad, stated that the IPO prospectus launch signifies a transformative moment for the company. The IPO will enable further growth, focusing on sustainability, innovation, and expanding production capacity.
Mr. Kevin Davies, Chief Executive Officer/Managing Director of RHB Investment Bank Berhad, expressed honor in partnering with SumiSaujana for this milestone, emphasizing the opportunities it brings for success in the oil and gas industry as they serve as the Principal Adviser and Sole Placement Agent.
SumiSaujana is also diversifying into the industrial specialty chemicals sector and expanding internationally, planning new production facilities in North America and the Middle East. With the upcoming listing, the Group aims for accelerated growth and long-term value creation for stakeholders.
RHB Investment Bank Berhad serves as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for SumiSaujana Group Berhad’s IPO.