SumiSaujana Group Berhad To Raise RM74.4 Million From Ace Market IPO

SumiSaujana Group Berhad ("SumiSaujana" or the "Company") and its subsidiary ("Group"), an established manufacturer of oil and gas ("O&G") specialty chemicals, has launched its prospectus in conjunction with its proposed Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) today. This IPO marks a significant step in SumiSaujana’s corporate evolution, providing the Group with the resources to expand its production capacity, enhance global market penetration, and strengthen business sustainability.

SumiSaujana Group Berhad To Raise RM74.4 Million From Ace Market IPO

Established in 2010, SumiSaujana has built a reputation as a trusted manufacturer and supplier of high-performance specialty chemicals for the oil and gas industry. The Group specialises in drilling fluid chemicals, production chemicals, and refinery chemicals, which are essential in enhancing operational efficiency, equipment protection, and process optimisation across the upstream, midstream, and downstream oil and gas sectors. 

Over the years, SumiSaujana has secured long-term partnerships with multinational oilfield service providers, international oil companies, and national oil corporations, reinforcing its strong market presence. Over 70% of SumiSaujana's revenue comes from international markets, including the Asia Pacific, Middle East, Africa, Europe, and the Americas region.

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 made available via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). The proceeds from the Offer for Sale will accrue to the Selling Shareholders.

Applications for the IPO open today following the prospectus launch and will close on 25 March 2025. SumiSaujana is expected to debut on the ACE Market of Bursa Securities on 9 April 2025. At an IPO price of RM0.24 per share, the company’s market capitalisation upon listing will be approximately RM346.5 million​.

Encik Norazlam Bin Norbi, Executive Director/Chief Executive Officer of SumiSaujana Group Berhad, commented, "The launch of our IPO prospectus represents a transformative moment for SumiSaujana Group Berhad. Since our establishment, we have continuously expanded our capabilities and strengthened our position as a trusted solutions provider for the oil and gas industry. Our ability to consistently meet the evolving demands of our customers has been key to our success, and this IPO will enable us to further accelerate our growth trajectory."

He added, "We are committed to driving business sustainability and innovation, ensuring that our customers continue to receive high-quality specialty chemicals that enhance efficiency and reliability in their operations. With the funds raised, we will focus on expanding our production capacity, strengthening our global footprint, and reinforcing our commitment to delivering value to all our stakeholders." 

Mr. Kevin Davies, Chief Executive Officer/ Managing Director of RHB Investment Bank Berhad, stated, “We are honoured to partner with SumiSaujana Group Berhad on this significant milestone. Thier IPO marks the beginning of a new phase of expansion and opportunity for SumiSaujana, positioning it for continued success in the highly specialised oil and gas industry. As the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent, RHB Investment Bank Berhad is privileged to be part of this journey and looks forward to supporting the Group as it takes this next step forward.”

Beyond O&G specialty chemicals, SumiSaujana is expanding into the industrial specialty chemicals sector to diversify its product portfolio. Internationally, the Group is strengthening its global footprint with plans to set up a new production facility in North America and the Middle East, reinforcing its presence in key international markets.

With its upcoming listing on the ACE Market of Bursa Securities, the Company is poised for accelerated growth, market expansion, and long-term value creation for stakeholders. The Group’s strategic investments in manufacturing, R&D, and sustainability initiatives reinforce its position as a trusted name in the global O&G specialty chemicals sector.

RHB Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for SumiSaujana Group Berhad’s IPO.