ListedACE Market· 0353· Shariah-compliant

West River IPO

Industrial Products & Services, Industrial Services. Offered at RM0.39 a share, listed on 5 May 2025.

Offer price

RM0.39

Shares offered

107.3m

RM42m at offer

Market cap at listing

RM140m

Offer period

10 Apr 2025 to 17 Apr 2025

Listing date

5 May 2025

Principal adviser

M & A Securities Sdn Bhd

Timeline

Offer opens
10 Apr 2025
Offer closes
17 Apr 2025
Balloting
Done
Listed
5 May 2025

Oversubscription

0.3×

Public applications for 0.3 times the shares on offer, 1,288 applications.

First day of trading

+1.3%

Opened above the offer price, closed -5.1% on day one.

About West River

West River is a Malaysia-based M&E (mechanical and electrical) engineering services company principally involved in electrical engineering, ACMV (air conditioning and mechanical ventilation), and intelligent building solutions for high-rise residential, commercial, and industrial properties.

First-day forecast

CISCOM's forecast for West River 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.