Juniper
(L-R):
1. Ms. Yeo Jie Yin 杨子颖女士, Independent Non-Executive Director of Adnex Group Berhad
2. Ms. Cheong Woon Chee 张文绮女士, Independent Non-Executive Director of Adnex Group Berhad
3. Mr. Kan Wai Peng 簡偉平先生, Non-Independent Executive Director of Adnex Group Berhad
4. Mr. Kan Wai Chun 簡宇軒先生, Non-Independent Executive Director / Managing Director of Adnex Group Berhad
5. Mr. Lee Yo-Hunn 李佑汉先生, Chief Executive Officer of Public Bank Investment Berhad
6. Dato’ Sr Mohd Zaid Bin Zakaria, Independent Non-Executive Chairman of Adnex Group Berhad
7. Dr. Soon Fong Piew 宋柉磦先生, Independent Non-Executive Director of Adnex Group Berhad
Adnex Group Berhad (“Adnex” or the “Company”), which is primarily involved in the provision of interior fit-out services, today officially launched its Prospectus in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
With a heritage of more than two decades through its principal subsidiary Adnex Interior Solution Sdn. Bhd., Adnex has evolved into a full-service interior fit-out provider specialising in design realisation, project management, and turnkey solutions for corporate offices, food and beverage (“F&B”) outlets and sales galleries.
The Group’s strong track record and client portfolio comprising both local and multinational corporations reflect its focus on craftsmanship, quality execution and timely delivery. Following the IPO exercise, Adnex is expected to raise RM18.10 million through the Public Issue of 90.50 million new shares at an issue price of RM0.20 per share. The proceeds raised from the Public Issue will be utilised as follows:
- RM6.40 million for business expansion, including expansion of corporate office and establishment of branch offices in other states in Malaysia, upgrade and enhancement of digital infrastructure, as well as expansion into international markets;
- RM3.00 million for performance bonds for existing and future interior fit-out projects;
- RM1.20 million for repayment of bank borrowings;
- RM3.90 million for working capital requirements; and
- RM3.60 million for estimated listing expenses.
Mr. Kan Wai Chun, Managing Director of Adnex Group Berhad shared, “The launch of our Prospectus represents an important step forward as we transition into a public listed company and enter a new phase of growth, accountability and opportunity. From a home-grown interior fit-out company into a professionally managed, regionally ambitious organisation, we have built up capabilities in executing interior fit-out works to serve a diverse client base. He further added that, “The IPO will provide us with the financial resources to further strengthen our project delivery capabilities, invest in advanced equipment and digital technologies, and expand our presence into East Malaysia and selected overseas markets. We remain committed to delivering design precision, quality execution and sustainable value to our clients and stakeholders.”
Mr. Lee Yo-Hunn, Chief Executive Officer of Public Investment Bank Berhad commented, “The interior fit-out industry is closely linked to economic activity, corporate expansion, and real estate utilisation. As businesses increasingly prioritise functional, efficient, and well-designed workspaces, reliable execution partners with proven delivery records become critical. It is within this landscape that Adnex has steadily built its reputation.
This strong foundation has positioned Adnex to respond effectively to the growing demands of the industry while maintaining the values that shaped its journey.” According to the Independent Market Research Report by Providence Strategic Partners Sdn. Bhd., Malaysia’s interior fit-out industry is expected to grow to RM2.7 billion in 2027, registering a compound annual growth rate of 8.3% between 2025 to 2027, supported by the growth in commercial and industrial properties, long-term growth of end-user industries as well as growth in foreign and domestic investment.
Applications for the Public Issue open on 26 February 2026and will close on 5 March 2026. Adnex is scheduled to be listed on the ACE Market of Bursa Securities on 17 March 2026. Upon listing, the Group is expected to have a market capitalisation of RM100.00 million, based on the issue price of RM0.20 per share and an enlarged issued share capital of 500,000,000 shares.
Public Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement
Agent for this IPO.
