KUALA LUMPUR: Bus Cap Bhd, a premier bus builder with over five decades of established market presence, has officially secured the green light from Bursa Malaysia to undertake its initial public offering (IPO) and listing on the ACE Market.
The IPO entails a total offering of 126.51 million Bus Cap shares.
This comprises a public issue of 107.34 million shares and an offer for sale of 19.16 million shares via private placement to selected investors.
TA Securities Holdings Bhd has been appointed as the principal adviser, sponsor, underwriter, and placement agent for the IPO.
With a heritage spanning over 58 years, Bus Cap has built a formidable track record serving bus operators, travel companies, and government agencies in Malaysia, while successfully expanding its market presence into Singapore.
For the financial year ended Dec 31, 2024, Bus Cap recorded strong revenue of approximately RM56.4 million, translating to a profit after tax (PAT) of RM6.9 million.
This financial performance was underpinned by surging demand for versatile, higher-capacity buses—particularly semi-high-deck models.
Managing director Ng Chai Sing said receiving the green light from Bursa Malaysia is a strong validation of the foundation the group has built over the last five decades.
“Transitioning to the public markets gives us the financial agility to aggressively modernise our operations and capture a larger slice of the bus building industry.
“Amid rising demand from bus operators in Malaysia and Singapore for higher-capacity, more efficient fleets, this proposed listing equips us with the capital and technological edge to meet evolving needs,” he said.
The listing will directly support Bus Cap’s next phase of structural growth.
Key expansion initiatives include the development of a new production facility to scale up manufacturing capacity, strategic investments in semi-automated fabrication technologies to drive operational productivity, and strengthening working capital to fulfil an expanding order book.