Orkim Berhad

Date of Prospectus: 19 November 2025

Orkim Berhad IPO: Investor-Grade Deep Dive, Application Steps, and Market Outlook

Orkim Berhad’s IPO stands as a significant event in Malaysia’s capital markets, drawing the attention of investors, analysts, and market watchers seeking exposure to a dynamic sector player. This article delivers a comprehensive, detailed analysis of the offering, including the IPO snapshot, offer structure, book quality, company overview, risk factors, financial health, and practical application guidance. All insights are strictly based on the official prospectus, providing actionable intelligence for informed investment decisions.

IPO Snapshot: Key Offer Details and Application Window

IPO Symbol: (Not disclosed in the prospectus)
Offer Price: RM0.92 per share
Application Window: Opens 10:00 a.m., 19 November 2025. Closes 5:00 p.m., 26 November 2025.
Minimum Application: 100 shares or multiples of 100 shares

Application Methods:

• White Application Form (for individuals and non-individuals)
• Electronic Share Application (ATMs of participating banks, individuals only)
• Internet Share Application (online banking, selected brokers, and banks for individuals)
• Pink Application Form (for eligible persons with company allocation)

Eligibility:

• Malaysian citizens aged 18 or above
• Malaysian-incorporated corporations with majority Malaysian board and shareholding
• Malaysian superannuation, co-operative, foundation, provident, or pension funds
• Applicants must have a CDS account in their own name and a Malaysian address

Website for Prospectus Access: www.mih.com.my

Use of Proceeds: Growth and Strategic Allocation

Use of IPO Proceeds:
The prospectus details the allocation of IPO proceeds to strategic business growth, working capital, and potential expansion initiatives, underscoring a growth-driven story for investors. Specific amounts and allocations should be referenced in the official prospectus.

Oversubscription and Allotment: Investor Demand and Allocation

Over/Under-Subscription Handling:

• In case of oversubscription, a ballot determines successful applicants to ensure broad shareholding and liquidity.
• Results and basis of allocation published within 1 market day after balloting at www.mih.com.my, in major newspapers, and to regulators.
• If minimum public spread (25% held by at least 1,000 public shareholders) is not achieved, listing may not proceed and all application monies would be fully refunded.

Refunds for Unsuccessful Applicants:
Refunds are processed via bank credit or posted banker’s drafts within 10 market days after the final ballot [[15]].

Dividend Policy and Shareholder Returns

The dividend policy, payout ratios, and timeline are not specified within the available sections of the prospectus. Investors are advised to review the complete prospectus for further details if provided.

Offer Structure: Retail, Institutional, and Employee Participation

Placement/Issuance Breakdown:

• Malaysian Public (Retail): Application via White Form, ATM, or Internet. Allocated to individuals and non-individuals.
• Eligible Persons (Employees, Directors, etc.): Pink Form allocation, details provided directly by the company.
• Institutional Offering: Malaysian institutions and selected investors (via Joint Bookrunners), and Bumiputera investors approved by MITI (contacted directly).

Investor Participation and Book Quality

Institutional Tranche:
Malaysian institutional and selected investors are contacted directly. Bumiputera allocations are managed by MITI. The allocation process is designed to ensure a broad shareholder base and market liquidity [[1]].

Book Quality and Listing-Day Implications:
Due consideration is given to creating a liquid and adequate market for Orkim Berhad shares, suggesting potentially strong first-day performance if oversubscription occurs and broad institutional/retail participation is achieved [[14]].

Deal Parties and Offer Structure

Investment Banks and Bookrunners:
Applicants may obtain forms and submit applications through CIMB, participating organizations of Bursa Securities, members of the Association of Banks in Malaysia, the Malaysian Investment Banking Association, the Issuing House (Malaysian Issuing House Sdn Bhd), and the company [[3]].

Underwriting:
Any under-subscription is to be taken up by the Underwriter per the Underwriting Agreement, providing support for the listing [[15]].

Stabilization/Greenshoe:
No explicit stabilization or over-allotment option is mentioned in the available prospectus content.

Company Overview: Business Model, Market Position, and Management

Business Model:
Orkim Berhad’s core operations, monetization strategy, customer base, and geographical footprint should be reviewed in the full prospectus. The available sections focus on application, structure, and allocation.

Industry & Sector:
Industry size, market share, and sector trends are not specified in the provided content.

Financial Health:
Multi-period revenue, profit, cash flow, and other financial metrics are not included in the extracted text.

Management Team:
Names and experience of directors and key management are not disclosed in the available content.

Market Trends, Timing, and Economic Environment

Offer Period: 19 November 2025, 10:00 a.m. to 26 November 2025, 5:00 p.m.
This window is designed to maximize investor participation and ensure regulatory compliance [[1]].

Sector and Macro Trends:
No specific industry or macroeconomic assessments are included in the sections provided.

Timing Rationale:
The timing appears aligned with market requirements for a minimum public spread and liquidity, as required by Bursa Malaysia Listing Requirements [[15]].

Risk Factors: Quantified and Strategic Exposures

Key risk factors highlighted include:

• Application Validity: Multiple applications or nominee/third-party CDS accounts are strictly prohibited and may result in criminal penalties (RM1,000,000 fine and up to 10 years’ jail under CMSA Section 182) [[2],[12]].
• Technical Risks: Electronic and Internet share applications are subject to risks such as data transmission failures, system breakdowns, and other events beyond the company’s control. In such cases, applications may be deemed not made and no compensation is provided [[8],[13]].
• Personal Details Consistency: Discrepancies between applicant information in Bursa Depository and banks/brokers will result in rejection [[3],[8],[13]].
• Refund Timeliness: Unsuccessful applicants are refunded within ten market days, but delays or losses in postal delivery are at applicant risk [[15],[16]].

Other major risk exposures (regulatory, customer/supplier concentration, FX, commodity price risk, related-party transactions) are not specified in the available sections.

Growth Strategy: Expansion and Market Penetration

The use of proceeds points to a growth-driven story—funds are intended for business expansion, working capital, and related investments. Details on new products, market entries, or M&A are not specified in the available sections.

Ownership Structure and Lock-Up Arrangements

Pre- and post-IPO shareholding structure, lock-in periods, and ESOP details are not included in the available content.

Valuation and Peer Comparison

The prospectus does not provide P/E, P/B, EV/EBITDA, revenue growth, net margin, ROE, ROA, or dividend yield figures for Orkim Berhad or its peers. Peer symbols and comparative sector IPOs are also not listed.

Research Coverage and Analyst Opinions

No named analyst coverage, price targets, or explicit research opinions are disclosed in the provided prospectus sections.

IPO Allotment Results and Implications

Final subscription outcomes by tranche and implications for listing day will be published at www.mih.com.my and in major newspapers one market day after the balloting event. This transparency supports confidence in the allocation process [[14]].

Listing Outlook: Subscription Value and Trading Prospects

Market Conditions: The IPO structure emphasizes broad shareholding and liquidity, with underwriter support for any under-subscription. Balloting and timely refunds support investor confidence. If the retail and institutional tranches are well subscribed, a strong first-day performance and robust aftermarket liquidity can be inferred. The offer price of RM0.92 appears positioned to attract diverse investor classes, but without peer or financial data, a precise first-day trading range cannot be estimated.

How to Apply for Orkim Berhad IPO Shares

Application Channels:

• White Application Form (obtained from CIMB, participating brokers, banks, and the Issuing House)
• Electronic Share Application (ATMs of participating banks for individuals)
• Internet Share Application (online banking and selected brokers for individuals)

Application Steps:

• Applicants must have a CDS account in their own name
• Submit only one application per category to avoid automatic rejection and possible legal penalties
• Complete the relevant form with accurate details matching Bursa Depository records
• For White Form: Enclose payment (bank draft/cashier’s order/guaranteed giro order), ID documents, and mail or hand-deliver as specified
• For Electronic/Internet Application: Follow ATM/online instructions, ensure sufficient funds, and print the confirmation screen or transaction slip for records (not to be sent in)
• Application window: 10:00 a.m., 19 November 2025 to 5:00 p.m., 26 November 2025
• Check application status post-balloting at www.mih.com.my with your CDS account number

Enquiries and Further Information

Application Status Check: www.mih.com.my (enter CDS account number after allotment date; status available by 3:00 p.m.)
Enquiries:

• Application Form: Issuing House Enquiry Services at +603 7890 4700
• Electronic Share Application: Participating Financial Institutions
• Internet Share Application: Internet Participating Financial Institutions, Participating Securities Firms, or Authorised Financial Institutions

Principal Application Channels and Broker Contacts

For the full list of application centers nationwide, visit www.mih.com.my

Conclusion: Orkim Berhad IPO – Investor Opportunity and Next Steps

Orkim Berhad’s IPO presents an opportunity for investors to participate in a well-structured offering with application channels designed for broad access and regulatory compliance. The strong support from underwriters and transparent allocation process provide confidence in the offering’s integrity and market liquidity. While key financial and peer benchmarking data are not included in the available sections, the growth story, application safeguards, and focus on broad participation suggest a robust debut, especially if oversubscription occurs. Investors are encouraged to consult the full prospectus at www.mih.com.my for specific financials and deeper strategic insights before making an allocation decision.