TEAMSTAR BERHAD

Date of Prospectus: 27 January 2026

TEAMSTAR BERHAD IPO: In-Depth Investor Analysis, Offer Structure, and Application Essentials

Teamstar Berhad’s Initial Public Offering (IPO) launches as a highly anticipated event on Bursa Securities, targeting retail and institutional investors seeking exposure to Malaysia’s dynamic capital market. This article provides a comprehensive, investor-grade analysis of Teamstar’s IPO, dissecting its offer structure, book quality, financial health, sector outlook, risk factors, and application process. All details are sourced directly from the official documentation, ensuring accuracy and relevance for discerning financial audiences.

IPO Snapshot: Key Terms and Offer Structure

Teamstar Berhad is offering its IPO shares at a price of RM0.26 per share. The application period opens at 10:00 a.m., 27 January 2026, and closes at 5:00 p.m., 9 February 2026. Applications must be for at least 100 IPO shares or multiples thereof. The IPO is structured to meet Bursa Securities’ requirement of at least 25% public shareholding spread among a minimum of 200 shareholders, each holding no fewer than 100 shares, upon listing.

Use of Proceeds: The specific allocation of IPO proceeds (e.g., R&D, capex, working capital, or debt repayment) is not detailed in the provided documentation. Investors should monitor official communications for potential updates regarding growth-driven or deleveraging intent.

Dividend Policy: No explicit dividend policy, payout ratio, or timeline is disclosed.

Oversubscription Metrics: In the event of oversubscription, allocation will be determined by balloting, with results published one market day after balloting on https://www.ascendserv.com and in major newspapers. Under-subscription in public or eligible person tranches will be taken up by underwriters as stipulated in the Underwriting Agreement [[14]].

Public, Private Placement, and Employee Allocation

Retail investors (Malaysian Public) may apply via White Application Form, Electronic Share Application, or Internet Share Application. Non-individuals may only apply via White Application Form. Employees and directors (Eligible Persons) use Pink Application Forms and may also participate in the public tranche. Private placements for selected and Bumiputera investors (MITI-approved) are conducted directly through the placement agent or MITI, with instructions communicated accordingly. All methods require a valid CDS account [[1]].

Book Quality, Anchor Investors, and Allotment Results

Allocation is designed to ensure broad retail participation and a “liquid and adequate market.” In the event of oversubscription, balloting is conducted on a fair and equitable basis, with allocation results furnished to Bursa Securities, published in major newspapers, and posted online one market day after balloting. There is no explicit disclosure of anchor or cornerstone investors, or specific tranche allocations by named institutions [[13][14]].

Pre-listing disposals by major shareholders or early investors are not disclosed.

Book quality and first-day performance are signaled to be supported by the intention to spread shares among a reasonable number of applicants, as well as the presence of underwriters to absorb any under-subscription.

Deal Parties, Underwriting, and Stabilization Mechanisms

Principal adviser and issuing house: AscendServ Capital Markets Services Sdn Bhd, Office Suite No. 603 Block C, Pusat Dagangan Phileo Damansara 1, No. 9, Jalan 16/11, Off Jalan Damansara, 46350 Petaling Jaya, Selangor [[5]].

Placement agent: Not named specifically in the provided documentation.

Underwriting: Underwriters will subscribe to any IPO shares not taken up by the Malaysian Public and/or Eligible Persons, subject to clawback and reallocation provisions.

Stabilization or over-allotment (greenshoe) mechanisms are not disclosed.

Company Overview and Business Model

Teamstar Berhad’s business model, key revenue streams, products/services, monetization strategies, customer segments, and geographic presence are not detailed in the provided documentation.

Industry, Market Position, and Competitive Advantages

Industry and sector definitions, market size, market share, competitive advantages, and brand strength are not detailed in the provided documentation.

Financial Health and Performance Metrics

Key financial metrics such as revenue, gross profit/margin, EBIT/EBITDA, net profit/margin, cash flow, debt levels, interest coverage, capex, and working capital are not disclosed in the provided documentation.

Management Team and Experience

Names, roles, and relevant experience of the management team are not disclosed in the provided documentation.

Sector Trends, IPO Timing, and Market Environment

IPO timing is specific and clear: The application window is from 27 January 2026, 10:00 a.m. to 9 February 2026, 5:00 p.m. Listing will proceed only if the 25% public spread and shareholder count requirements are met. If not, all application monies will be returned within 14 days [[14]].

Sector, regional, or macroeconomic trends, demand drivers, and recent developments about the company/sector are not disclosed in the provided documentation.

Key Risk Factors

Applicants must not submit multiple applications in the same category. Doing so is an offence under Section 179 of the CMSA, punishable by a minimum fine of RM1,000,000 and up to 10 years’ imprisonment under Section 182 of the CMSA. Applications must adhere strictly to all instructions and eligibility requirements, with discrepancies potentially resulting in outright rejection [[2][12]].

Other specific risks such as legal, regulatory, customer or supplier concentration, FX, commodity, product/geography concentration, and related-party transactions are not disclosed in the provided documentation.

Growth Strategy and Expansion Plans

No specific information is disclosed regarding Teamstar’s growth strategy, expansion plans, new products, M&A, capacity additions, capex pipeline, or market entries.

Ownership Structure, Lock-up, and ESOPs

Pre- and post-IPO shareholding structures, major shareholder and promoter holdings, lock-up periods, and employee share ownership plans (ESOPs) are not disclosed in the provided documentation.

Valuation and Peer Comparison

No peer symbols, valuation metrics (P/E, P/B, EV/EBITDA, revenue growth, net margin, ROE, ROA, dividend yield), or sector performance tables are disclosed.

Research Coverage and Analyst Opinions

No analysts, research institutions, or price targets are named in the documentation.

IPO Allotment Result

Final subscription outcomes by tranche will be published by the Issuing House on https://www.ascendserv.com after the allocation and balloting process. Applicants can check the status of their application on the same site after 5:00 p.m. on the allotment date [[15]].

Listing Outlook and Investor Takeaways

Based strictly on the information provided:

• The IPO structure is robust, with retail, employee, and institutional participation channels, and underwriter support for unmet retail demand.
• Broad allocation and balloting mechanisms are designed to foster a liquid market, with statutory public shareholding targets in place.
• Absence of detailed financials, business overview, sector outlook, or named anchor investors means the upside case depends on general market sentiment and the company’s ability to meet public float requirements.
• Investors should expect a disciplined and well-governed allocation process, with strict eligibility and application rules enforced.

Given these factors, the IPO appears structured for a stable listing, with the potential for favorable first-day trading subject to actual demand, but a full investment assessment will require further disclosures regarding business and financial details.

Accessing the Prospectus

The official prospectus and balloting results can be accessed at:
https://www.ascendserv.com

How to Apply for TEAMSTAR BERHAD IPO Shares

Applications are open from 27 January 2026, 10:00 a.m. to 9 February 2026, 5:00 p.m.

Eligible applicants: Malaysian citizens aged 18 or above, corporations with majority Malaysian board/shareholders, and select institutions/funds. All applicants must have a CDS account in their own name and a Malaysian correspondence address.

Application channels:

• White Application Form (individuals and non-individuals)
• Electronic Share Application (ATM) via Alliance Bank Malaysia Berhad, Malayan Banking Berhad, Public Bank Berhad, RHB Bank Berhad
• Internet Share Application via Alliance Bank, CGS International Securities, iFast Capital, Kenanga Investment Bank, Malacca Securities, Malayan Banking, Moomoo Securities, Public Bank, RHB Bank, UOB Kay Hian
• Pink Application Form (Eligible Persons e.g., employees)

Application steps: Applicants must follow all instructions precisely, ensuring all personal and account details exactly match their CDS records. Processing fees vary by channel and institution.

Contact details for application and status checking are provided on the application website and through the Issuing House’s enquiry services at +603 – 7890 0238.