Sabah’s Colform signs deal with Mercury Securities for upcoming IPO

KUALA LUMPUR (Dec 10): Sabah-based steel and building material specialist Colform Group Berhad (Colform) has entered into an underwriting agreement with Mercury Securities Sdn Bhd (Mercury Securities) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.

With over 20 years of experience, Colform has solidified its role as a trusted partner, delivering end-to-end steel solutions to support Malaysia’s construction development from concept to completion.

Kang Ket Hung, managing director of Colform, shared his enthusiasm for the IPO, stating, “The ACE Market listing is a pivotal milestone for Colform, providing us with an enhanced platform for growth and expansion.

“This opportunity will not only elevate our brand presence but also enable our directors, employees, business partners, and public investors to participate in our journey, fostering long-term value creation.

“From concept to completion, we are excellence, precision, reliability, integrity, and committed in every aspect. We are grateful to Mercury Securities for their strong support and trust in our group.”

He further commented, “This listing will empower Colform to scale new heights by tapping into emerging markets and responding effectively to the evolving needs of the steel industry.

“We remain committed to delivering superior steel solutions that exceed customer expectations, driving sustainable growth and innovation.”

Headquartered in Sabah, Colform’s offerings span across various types of downstream steel products such as roofing sheets, wall claddings and IBS steel framing systems providing cost-efficient, labour-saving solutions tailored to meet industry standards.

Colform serves a diverse clientele, including government, commercial, and private sectors, embodying reliability and innovation in every project.

The IPO involves the issuance of 114.424 million new ordinary shares, representing 19.07 per cent of Colform’s enlarged issued share capital, and an offer for sale of 54 million ordinary shares, representing nine per cent of the enlarged issued share capital upon the group’s listing.

Mercury Securities will underwrite the 36 million issue shares made available for application by the Malaysian public and eligible persons.

-Agency