ListedACE Market· 0297· Shariah-compliant

TSA Group IPO

Industrial Products & Services, Metals. Offered at RM0.55 a share, listed on 2 Feb 2024.

Offer price

RM0.55

Shares offered

77.3m

RM43m at offer

Market cap at listing

RM170m

Offer period

27 Dec 2023 to 17 Jan 2024

Listing date

2 Feb 2024

Principal adviser

AmInvestment Bank Berhad

Timeline

Offer opens
27 Dec 2023
Offer closes
17 Jan 2024
Balloting
Done
Listed
2 Feb 2024

Oversubscription

8.6×

Public applications for 8.6 times the shares on offer, 4,304 applications.

First day of trading

+5.5%

Opened above the offer price, closed +4.5% on day one.

About TSA Group

TSA Group is a Malaysia-based stainless steel trader and pipe manufacturer with 30 years of operating history (since 1993), selling ferrous and non-ferrous metal products, hardware, and manufactured ornamental stainless steel pipes under its proprietary 'TSS' brand.

First-day forecast

CISCOM's forecast for TSA Group is available to Pro members.

Every IPO gets a projected first-day range and a probability of opening above the offer price, built from the most similar past listings on Bursa Malaysia. Across 246 IPOs in the walk-forward back-test, the model called the first-day direction right 74% of the time. Educational estimates, not investment advice.

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Facts on this page come from Bursa Malaysia announcements, the prospectus and issuing-house press releases, and can change. CISCOM is an educational service and does not provide investment advice. Past performance does not guarantee future results. Consult a licensed adviser before investing.