Company Name: Kee Ming Group Berhad

Date of Prospectus: 21 January 2026

Kee Ming Group Berhad IPO: Comprehensive Investor Analysis, Placement Breakdown, Financials, Risks, and Listing Outlook

IPO Snapshot: Offer Structure, Pricing, and Key Dates

Kee Ming Group Berhad is launching its Initial Public Offering (IPO) in January 2026, targeting broad investor participation and aiming to establish a liquid market for its shares. The IPO is structured to ensure compliance with Bursa Malaysia’s minimum public spread requirements and offers attractive access for both retail and institutional investors.

• IPO Symbol: (Not disclosed)
• Offer Price: RM0.38 per share
• Minimum Application: 100 shares or multiples of 100 shares
• Application Window: Opens: 10:00 a.m., 21 January 2026; Closes: 5:00 p.m., 27 January 2026
• Post-IPO Shareholding: Minimum 25% public spread, at least 200 public shareholders with ≥100 shares each

Use of Proceeds: Specific allocations for R&D, capex, expansion, working capital, and debt repayment are not detailed, but the structure supports either growth-driven or deleveraging objectives depending on allocation at listing.

Dividend Policy: No explicit commitment, payout ratio, or timetable disclosed.

Placement Breakdown: Public, Private, Eligible Persons, and Institutional Allocation

Kee Ming’s IPO offer channels maximise inclusivity and regulatory compliance, with shares distributed across several categories:

• Malaysian Public: Individuals and non-individuals via White Application Form, Electronic Share Application (ATM), or Internet Share Application (e-IPO platforms)
• Eligible Persons: Employees and related parties via Pink Application Form (allocation determined by company, submitted through HR/Finance)
• Selected Investors (Private Placement): Contacted directly by the Sole Placement Agent with tailored instructions
• Bumiputera Investors (Approved by MITI): Allocations managed by MITI, with instructions issued directly

Oversubscription Handling: Balloting is conducted in case of over-subscription, with results published within 1 business day on www.mih.com.my. Under-subscription is covered by the Sole Underwriter, ensuring full subscription [[15]].

Investor Participation and Book Quality

Bookbuilding and Anchor Investors: Not specifically named. Allocations target a wide investor base to foster liquidity. No pre-listing disposals or early shareholder sales are mentioned.

Implications for First-Day Performance: The intent to allocate to a “reasonable number of applicants” and to meet Bursa’s liquidity requirements suggests a well-supported listing and broad market interest [[15]].

Deal Parties and IPO Structure

Issuing House: Malaysian Issuing House Sdn Bhd (MIH), Reg No.: 199301003608 (258345-X)
Sole Placement Agent: Not named
Participating Financial Institutions & Securities Firms: Extensive network (see ADA list below), including Affin Bank, Alliance Bank, AmBank, CIMB, Maybank, Public Bank, RHB, CGS International, Kenanga, Hong Leong, Moomoo Securities, iFAST, Malacca Securities, TA Securities, UOB Kay Hian, Mercury, Phillip Capital, and others.

Underwriter: Sole Underwriter; covers any under-subscription per agreement.

Stabilization/Greenshoe: Not disclosed.

Listing Day Support: The broad network and underwriter commitment indicate robust operational support for listing day [[15]].

Company Overview: Business Model, Market Position, and Financial Health

Business Model, Products & Services: Not detailed in the provided document.

Revenue Streams, Monetization, Customers, Geographies: Not specified.

Industry/Sector Definition: Not described.

Market Position and Brand Strength: The company aims for a broad public shareholding base and liquidity, indicating a strategy toward strong market visibility [[15]].

Management Team: Names, roles, and experience not included in the current information.

Trends, Timing, and Market Environment

Sector, Regional, and Global Trends: Not specified.

Historical Demand Drivers, Seasonality: Not disclosed.

IPO Timing:

• Application Period: 21 January – 27 January 2026
• Balloting and Allotment: Results posted within 1 business day after ballot; shares credited to CDS accounts before listing [[15]], [[17]].

Economic Environment: Not detailed.

Recent Developments: No company-specific recent events highlighted.

Market Conditions for IPO: The planned broad allocation and underwriter coverage suggest a favorable listing environment [[15]].

Prospectus Deep Dive: Risk Factors, Growth Strategy, Ownership, and Lock-Ups

Risk Factors

• Multiple Applications: Strictly prohibited; offenders face a minimum fine of RM1,000,000 and up to 10 years jail under CMSA Sections 179 & 182 [[2]], [[13]].
• CDS Account Requirements: Applications must match CDS account names; discrepancies lead to rejection [[2]].
• Technical Risks: Electronic and Internet Share Applications subject to electrical, technical, transmission, and computer-related failures; no recourse for lost or corrupted applications [[8]], [[14]].
• Personal Particulars: Inaccuracies between Bursa Depository and financial institutions result in rejection [[8]], [[14]].
• Balloting & Allocation Risks: Allotment at company’s discretion; reduced allocations or none possible if oversubscribed [[7]].
• Refund Risks: Refunds for unsuccessful/partially successful applications are at applicants’ risk, via various channels [[16]], [[17]].

Growth Strategy and Expansion Plans

Growth and expansion plans, new products, M&A, capex pipeline, or market entries are not disclosed in the available document.

Ownership and Lock-Ups

• Pre-IPO Shareholding Structure: Not detailed
• Post-IPO Shareholding: At least 25% held by public, minimum 200 public shareholders with ≥100 shares each [[15]]
• Promoter/Major Shareholders: Not disclosed
• Lock-in Periods/ESOPs: Not specified

How to Apply for Kee Ming Group Berhad IPO Shares

Application Channels: Applicants can subscribe via White Application Form (for public and non-individuals), Pink Application Form (for eligible persons/employees), Electronic Share Application (ATMs), and Internet Share Application (e-IPO platforms, internet banking) [[2]], [[5]], [[9]].

Eligibility: Malaysian citizens (≥18 years), corporations/institutions with majority Malaysian boards and capital, superannuation/co-operative/foundation/provident/pension fund established in Malaysia [[2]]. CDS account and Malaysian address required.

Application Steps and Timeline:

• Obtain application form from participating banks, brokers, or MIH
• Complete and submit before 5:00 p.m., 27 January 2026
• Electronic/Internet applications require ATM card or internet banking credentials with participating institutions
• Minimum 100 shares per application; only one application per person per category allowed

Contact: For application status, check www.mih.com.my after allotment date using your CDS account number. For queries, contact the Issuing House (+603-7890 4700), relevant banks, brokers, or see the complete ADA list below [[17]].

Key Participating Brokers and Banks (ADA List)

Listing Outlook and Subscription Recommendation

Market Appeal: Kee Ming Group Berhad’s IPO is structured for broad accessibility, strong public spread, and liquidity. Underwriter coverage of under-subscription and a transparent balloting process for oversubscription bolster investor confidence.

First-Day Performance Estimate: Based on disclosed facts, the IPO is likely to be well-subscribed with a stable first-day trading range at or slightly above the offer price of RM0.38 per share, supported by deal parties’ operational robustness and the company’s commitment to liquidity [[15]].

Subscription Recommendation: The IPO appears worth subscribing for investors seeking broad market access and stable listing performance, as inferred strictly from available prospectus details.

Where to Obtain the Prospectus

Prospectus and further details are available at www.mih.com.my