SBS Nexus Berhad

Date of Prospectus: 23 December 2025

SBS Nexus Berhad IPO: Comprehensive Investor Analysis, Offer Details, and Application Guide

SBS Nexus Berhad is launching its highly anticipated IPO, opening opportunities for investors to participate in one of Malaysia’s promising market entries for 2026. This investor-focused analysis provides a deep dive into IPO details, offer structure, financial health, risks, growth strategy, allocation results, and application instructions, empowering market watchers and analysts with a full understanding of SBS Nexus Berhad’s public debut.

IPO Snapshot: Key Offer Terms and Listing Details

IPO Symbol: Not specified
Offer Price: RM0.25 per share
Offer Size and Shares: Minimum application is 100 IPO Shares or multiples thereof. The total number of shares offered and post-IPO outstanding share count is not specifically disclosed.
Public Offering Window: Opens at 10:00 a.m., 23 December 2025 and closes at 5:00 p.m., 7 January 2026.
Application Methods: White Application Form, Electronic Share Application, Internet Share Application
Minimum Application: 100 IPO Shares (or multiples of 100)
Offer Price per Share: RM0.25

Placement and Issuance Breakdown:

• Retail allocation via Pink Application Form for Eligible Persons
• Malaysian Public: Individuals via White Form/Electronic/Internet Application; Non-Individuals via White Form
• Placement for selected investors and Bumiputera investors approved by MITI

Dividend Policy: Not specified
Oversubscription Metrics: Not specified
Listing Date: Not specified

Use of Proceeds: Strategic Capital Deployment

Details on the use of proceeds—such as allocations toward R&D, capex, working capital, or debt repayment—are not explicitly disclosed.

Investor Participation and Book Quality

Investor Tranches:

• Retail investors (Malaysian public, individuals, and non-individuals)
• Selected institutional/anchor investors and MITI-approved Bumiputera investors
• Eligible Persons (internal allocation)

Anchor/Institutional Investors: Not named in the document.
Pre-listing Sales/Disposals: Not disclosed.
Book Quality and Listing-Day Performance: The allocation structure and detailed application procedures suggest a focus on a broad shareholder base, designed to support aftermarket liquidity and price stability.

Deal Parties and Offer Structure

Issuing House: Tricor Investor & Issuing House Services Sdn Bhd (Registration No. 197101000970 (11324-H))
Principal Adviser: Not specified
Underwriters, Sponsors, Bookrunners: Not specified
Stabilization/Greenshoe Option: Not specified

The presence of an experienced Malaysian Issuing House, Tricor, and the adherence to Bursa Malaysia and regulatory requirements, imply a well-supported offering process. Oversubscription handling and refunds are clearly described, further supporting investor confidence.

Company Overview: Business Model, Market Position, and Management

SBS Nexus Berhad is positioning itself as a dynamic entrant in Malaysia’s capital markets. While the specific industry sector, business model, and revenue sources are not detailed, the company’s comprehensive application and listing procedures, as well as its engagement with a broad investor base, indicate a focus on inclusive growth and market liquidity.

Revenue Streams, Key Products, Services: Not specified
Customer Segments, Geographies: Not specified
Industry/Sector Size: Not specified
Market Position and Advantages: Not specified
Management Team: Not disclosed

Financial Health: Key Performance Metrics

Financial statements, including revenue, profit margins, and cash flow, are not disclosed.

Trends, Timing, and Market Environment

Offer Period: 23 December 2025, 10:00 a.m. – 7 January 2026, 5:00 p.m.
Sector, Regional, and Macro Trends: Not specified
Market Environment: The company aims to ensure at least 25% of issued share capital is held by at least 200 public shareholders with not less than 100 shares each upon listing, in accordance with Bursa Malaysia requirements. This focus on broad public participation is designed to support post-listing liquidity.

Recent Company/Sector Developments: Not disclosed

Risk Factors

Key risks highlighted include:

• Multiple Applications: Submitting more than one application (including via the names of others, with or without consent) is an offence under Section 179 of the CMSA, punishable by a minimum fine of RM1,000,000 and up to 10 years in jail under Section 182 of the CMSA.
• Application Rejection: Applications not strictly conforming to instructions, or with mismatched CDS and bank account details, will be rejected.
• Technical Risks: Electronic and Internet Share Applications are subject to risks including transmission failures or data corruption; if not received, the application is considered not made, with no recourse for claims or loss.
• Minimum Public Spread Requirement: If the minimum 25% public spread is not met, the listing may not proceed and monies will be refunded in full.

Growth Strategy and Expansion Plans

No details on specific expansion plans, new products, M&A, capacity additions, or capex pipeline are disclosed.

Ownership and Lock-ups

Details of pre- and post-IPO shareholding structure, lock-up periods, and employee share schemes are not provided.

Valuation and Peer Comparison

No P/E, P/B, EV/EBITDA, revenue growth, or peer comparison metrics are disclosed. No peer companies are mentioned.

Research and Analyst Opinions

No research coverage, analyst opinions, or price targets are disclosed.

IPO Allotment Results

In cases of over-subscription, a ballot will be conducted in a manner approved by the board, with results furnished to Bursa Securities and published on the Issuing House’s website at https://srmy.vistra.com within one market day after the balloting event. The company’s focus is on broad allotment to establish a liquid market [[14]].

Listing Outlook and Investor Takeaways

Based solely on the offer structure and application procedures, SBS Nexus Berhad is committed to ensuring a broad public float and transparent allocation. This approach, combined with clear application and refund rules, suggests a market-friendly process. However, the absence of financial and business model disclosures requires investors to weigh procedural transparency against limited company-specific data. The likelihood of a strong first-day performance will depend on subscription levels and the success in meeting minimum public spread requirements.

Prospectus Access

Investors can access the full prospectus and related documents at srmy.vistra.com.

How to Apply for SBS Nexus Berhad IPO Shares

Application Channels:

• Brokers: List of Authorised Depository Agents (ADAs) across Kuala Lumpur, Selangor, Penang, and other regions (see below for a sample of ADA branches)
• Banks: Participating Financial Institutions for Electronic and Internet Share Applications
• e-IPO Platforms: Internet Participating Financial Institutions or Participating Securities Firms (e.g., Maybank2u, RHB, Affin Bank, Kenanga, Moomoo, Public Bank, UOB Kay Hian, CGS International, TA Securities, Malacca Securities, etc.)

Eligibility:

• Malaysian citizens 18 years and above
• Corporates/institutions with majority Malaysian boards and shareholding
• Superannuation, co-operative, foundation, provident or pension funds established or operating in Malaysia
• You must have your own CDS account (nominee/third-party accounts not accepted)

Application Steps:

• Obtain relevant application forms (White for public, Pink for Eligible Persons)
• Electronic Share Application (ATM): Use your Malaysian bank ATM card at a participating institution and follow on-screen instructions. Fees range from free to RM2.50 per application depending on the bank.
• Internet Share Application: Apply through the e-IPO platform of an approved bank or securities firm. Processing fees vary by provider (from free to RM2.50).
• Submit applications by post or deposit in person (for physical forms) to Tricor Investor & Issuing House Services Sdn Bhd, or as instructed by your broker/bank.
• Application period runs from 23 December 2025, 10:00 a.m. to 7 January 2026, 5:00 p.m.
• Minimum application: 100 shares or multiples of 100.

Sample of Authorised Depository Agents (ADAs)

Application Status & Allotment Results: Check the status of your application and the results of the IPO allocation at srmy.vistra.com five market days after the balloting date or by contacting your ADA.

Conclusion: Should Investors Consider SBS Nexus Berhad IPO?

SBS Nexus Berhad’s IPO offers a transparent and well-structured access point for Malaysian investors seeking new market opportunities. The company’s strong focus on regulatory compliance, public participation, and fair allocation signals a positive intent to establish a broad and liquid market base. However, the absence of operational and financial disclosures means investors must rely on the robustness of the process rather than fundamentals. The IPO is likely to draw significant interest from retail and institutional investors seeking exposure to new listings in Malaysia’s evolving market landscape for 2026.