Enest Group Berhad, a high-purity edible bird's nest processor and trader, debuted on the ACE Market of Bursa Malaysia Securities Berhad at an opening price of RM0.13 per share. The listing follows a transfer from the LEAP Market, marking a significant milestone in the company's corporate journey. The stock is listed under the name "ENEST" with the code "0467".

Through its initial public offering (IPO), Enest raised RM15.11 million in gross proceeds by issuing 116.25 million new shares, representing 20.0% of its enlarged issued share capital of 581.25 million shares. The IPO also included an offer for sale of 15.05 million existing shares, representing approximately 2.6% of the enlarged issued share capital.

The net proceeds from the public issue are allocated for specific corporate purposes. A total of RM5.00 million is designated for the repayment of bank borrowings, while RM6.41 million will be utilized for working capital. Additionally, RM3.70 million is set aside for the defrayment of listing expenses.

Utilization of IPO Proceeds

Mr. Tan Teh Jie, Managing Director of Enest Group Berhad, stated that the listing marks an important milestone as the company advances as an ACE Market-listed entity. He highlighted the Group's established presence across key segments of the edible bird's nest value chain, including processing capabilities, sourcing network, and export experience, particularly into China.

Datuk Bill Tan, Managing Director of M & A Equity Holdings Berhad, noted that Enest's successful debut reflects its established operational track record and exposure to the growing edible bird's nest industry. He emphasized that the Group is well-positioned to pursue further growth following its transfer listing, supported by its processing expertise and export reach.

Business Operations

Enest traces its roots to 2015 and has grown into an established player in the edible bird's nest industry. The Group is principally involved in the processing and sale of raw clean edible bird's nest and trading of bird's nest, serving customers such as distributors, importers, and retailers. China remains its largest market. Beyond core operations, Enest sells bottled bird's nest and health beverages, and operates a health and personal care retail business under the trade name "Kang Li".

M & A Securities Sdn Bhd acted as the Adviser, Sponsor, Underwriter, and Placement Agent for the IPO. The listing provides Enest with a stronger platform to enhance its market standing, improve financial flexibility, and support ongoing operating requirements, particularly in sourcing key raw materials.

Enest Group Berhad, a high-purity edible bird's nest processor and trader, announced that the public portion of its Initial Public Offering (IPO) was oversubscribed 1.94 times, reflecting strong investor interest ahead of its transfer listing to the ACE Market of Bursa Malaysia Securities Berhad. The oversubscription underscores confidence in the company's position within the edible bird's nest industry and its long-term growth prospects.

The IPO comprises a public issue of 116.25 million new ordinary shares, representing 20.0% of its enlarged issued share capital of 581.25 million shares, alongside an offer for sale of 15.05 million existing shares, representing approximately 2.6% of the enlarged issued share capital. The allocation structure includes 29.06 million shares for the Malaysian public, 8.72 million shares for Pink Form Applications, 72.66 million shares for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), and 20.87 million shares for private placement to selected investors.

The Group received 2,871 applications for 85.53 million IPO shares from the Malaysian public. The Bumiputera public portion received 1,474 applications for 29.85 million shares, an oversubscription rate of 1.05 times, while the Malaysian public investor portion saw 1,397 applications for 55.69 million shares, an oversubscription rate of 2.83 times. The Pink Form Allocations and private placement portions were fully subscribed or placed out.

Mr. Tan Teh Jie, Managing Director of Enest Group Berhad, attributed the positive response to growing investor awareness of the company's industry position and confidence in its prospects. He highlighted the company's business across key segments of the edible bird's nest value chain, supported by processing capabilities, supplier network, and export reach, particularly into China.

Datuk Bill Tan, Managing Director of M & A Equity Holdings Berhad, noted that the solid response highlights investor interest in Enest's operational foundation and exposure to the growing edible bird's nest industry. He emphasized that Enest is well-positioned to pursue its next stage of growth following its listing.

IPO Allocation Structure

Subscription Details

Enest Group Berhad is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on July 15, 2026.