KUALA LUMPUR: Yes Group Management Bhd, the operator of the “Yes Travel” brand and a Meetings, Incentives, Conferences, and Exhibitions (MICE) specialist principally involved in the provision of customised incentive travel solutions as well as event planning and management solutions, has entered into an underwriting agreement with Malacca Securities Sdn Bhd in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Bhd.
Pursuant to the underwriting arrangement, Malacca Securities will underwrite 31.8 million new shares, comprising 26.5 million new shares made available for application by the Malaysian public and 5.3 million new shares made available under the pink form allocations.
The group’s IPO will comprise a public issue of 91.87 million new shares and an offer for sale of 45.93 million existing shares, representing a total IPO offering of 137.8 million shares.
The public issue and offer for sale will comprise 26.5 million shares or 5% of the company’s enlarged issued share capital, with 2.5% made available to public investors and the remaining 2.5% to Bumiputera public investors; 5.3 million shares or 1% of the enlarged issued share capital will be allocated to eligible directors, employees and persons who have contributed to the success of the group through pink form allocations; 60.07 million shares or 11.33% of the enlarged issued share capital reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti).
Offer for sale of 6.18 million shares or 1.17% of the enlarged issued share capital by way of private placement to Bumiputera investors approved by Miti and another 39.75 million shares or 7.5% of the enlarged issued share capital by way of private placement to selected investors.
Yes Group managing director Angela Mak Shau Kwan said, “The signing of the underwriting agreement reflects our continued progress towards the proposed listing of Yes Group. We are encouraged by the support from Malacca Securities as we move towards becoming a publicly listed company. Our focus remains on strengthening our position in corporate incentive travel and MICE solutions, while building the necessary capabilities to support long-term business expansion.”
Meanwhile, Malacca Securities managing director Lim Chia Wei said Yes Group has built a business focused on customised incentive travel and event solutions, serving corporate clients through a comprehensive end-to-end service model. She said the IPO would enhance the company’s market visibility and provide greater financial flexibility to support its growth plans and pursue its longer-term business strategies.
Yes Group has demonstrated a strong growth trajectory, with revenue increasing by 82.4% from RM41.39 million in FY23 to RM75.47 million in FY25, while PAT rose by 43% from RM5.13 million to RM7.34 million over the same period.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
