OGX Group Berhad

Date of Prospectus: 12 February 2026

OGX Group Berhad IPO: A Growth-Driven Technology Play Debuts on Bursa Malaysia’s ACE Market

OGX Group Berhad launches its highly anticipated IPO, offering investors a unique opportunity to participate in the growth of a leading IT infrastructure solutions provider in Malaysia and the region. This in-depth analysis covers all material aspects of the offering, including deal structure, financials, use of proceeds, leadership, sector trends, risks, and a data-driven listing outlook.

IPO Snapshot: Key Offer Details and Structure

OGX Group Berhad (IPO Symbol: Not Disclosed)

• Offer Price: RM0.35 per share
• Total Offer Size: 225,000,000 shares (comprising 150,000,000 new Issue Shares and 75,000,000 Offer Shares)
• Post-IPO Outstanding Shares: 750,000,000 shares
• Expected Market Capitalisation on Listing: RM262.5 million

OGX Group Berhad’s IPO consists of a Public Issue of 150 million new shares and an Offer for Sale of 75 million existing shares, both priced at RM0.35. The offering is structured to ensure robust participation from the Malaysian public, institutional investors, and Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).

Post-IPO Shareholding Structure: Promoters remain with 70.0% (collective) of the enlarged share capital. Public float is 30.0%.

Use of Proceeds: Expansion-Focused Capital Deployment

The IPO will raise RM52.5 million in gross proceeds, entirely from the Public Issue. Proceeds are allocated to fuel aggressive growth and operational expansion, with a smaller portion for deleveraging and liquidity.

This allocation signals OGX’s commitment to growth, operational scaling, and regional expansion, while modestly reducing leverage and ensuring liquidity.

Dividend Policy and Recent Payouts

• Dividends were paid in FYE 2024 (RM4.7 million, 57.57% payout) and FYE 2025 (RM9.0 million, 58.79% payout).
• No dividends paid for FPE 2026 (period ending 31 October 2025).
• Dividend policy: Future dividends will depend on profits, capital requirements, and other factors. There is no stated fixed payout commitment.

Deal Parties and Offer Structure

• Principal Adviser, Sponsor, Underwriter, and Placement Agent: UOB Kay Hian (M) Sdn Bhd
• Underwriting: 37,500,000 shares (Malaysian Public) and 18,750,000 Pink Form shares are fully underwritten.
• Placement Fee: 2.00% on placements; Underwriting commission: 2.00%.
• Stabilization/Greenshoe: No price stabilization mechanism will be employed.

The lead role of a major regional investment bank and a fully underwritten public tranche adds credibility and visibility to the offering.

Company Overview: Business Model and Geographic Footprint

OGX Group Berhad is a Malaysia-incorporated investment holding company, with subsidiaries focused on providing IT infrastructure solutions. The Group’s core services include:

• Designing, deploying, and implementing IT infrastructure solutions
• Expanding its portfolio of IT infrastructure brands
• Regional business expansion, notably into Vietnam and Southeast Asia

Key subsidiaries include OGX Networks, Nextpivot, OSB, and DTCT (with a joint venture in Malaysia and Southeast Asia involving DTCT China).

OGX’s customer base comprises enterprises seeking advanced technology solutions across Malaysia and the region.

Financial Health: Multi-Period Performance Snapshot

OGX has demonstrated strong revenue and profit growth across the past four financial years, with profit margins expanding meaningfully in FYE 2025. The company’s balance sheet is further strengthened by IPO proceeds allocated to debt repayment and working capital.

Leadership and Management Team

• Tan Ting Fong: Non-Independent Non-Executive Chairman
• Tan Suan Loong: Executive Director/Managing Director
• Kuan Ying Tung, Chong Swee Ying, Poh Zuan Yin: Independent Non-Executive Directors
• Poon Kaixin: Chief Financial Officer
• Ng Hsin Chung: Chief Technology Officer
• Ho Kwok Xheng: Chief Operations Officer
• Tan Su Ching: Chief People Officer

OGX’s leadership comprises experienced professionals with both executive and independent oversight, supporting strong governance and strategic clarity.

Sector Trends, Market Environment, and IPO Timing

• Industry Focus: IT infrastructure solutions in Malaysia and Vietnam, with expansion into broader Southeast Asia.
• Growth Drivers: Increasing digitalization, enterprise IT upgrades, and regional business expansion demand.
• IPO Offer Period: 10:00 a.m. 12 February 2026 – 5:00 p.m. 2 March 2026
• Balloting/Allotment: 4 March 2026 / 11 March 2026
• Listing Date: 12 March 2026

OGX is listing in a period characterized by technology sector growth, digital transformation, and increasing demand for IT infrastructure, as described in their market research extracts.

Risk Factors: Material Disclosures and Quantified Exposures

• No prior market for OGX shares: Potential for illiquidity post-listing.
• Market and regulatory risks: Listing could be delayed or canceled by regulatory events or failure to meet public shareholding spread (minimum 25%, 200 public shareholders).
• Dividend risk: No guarantee of future payouts, despite past dividends.
• Promoter dominance: Promoters will own 70.0% post-IPO, potentially influencing all major decisions.
• Intense competition: Market includes larger, more established players with greater resources and brand strength.
• General industry risks: Dependence on IT industry trends, possible customer and supplier concentration, and rapid technological change.

Growth Strategy: Expansion and Market Penetration

• Business expansion: RM34.5 million allocated to acquire and renovate a new facility, expand IT brand portfolio, and drive geographical growth within 18–30 months post-listing.
• Regional penetration: Joint venture with DTCT China for Southeast Asia expansion.
• Working capital: RM8.5 million to support larger scale operations, product purchases, and talent acquisition.
• Debt reduction: RM4.5 million earmarked for bank borrowings repayment, enhancing financial flexibility.

Ownership and Lock-Ups

Moratorium in place for Specified Shareholders as per ACE Market requirements.

Listing Outlook: Investor Takeaways and Market Debut Expectations

Based strictly on the disclosed facts, OGX Group Berhad’s IPO is characterized by:

• Strong growth and profitability momentum, with expanding margins and a clear regional expansion strategy.
• Significant allocation of IPO proceeds to business expansion supports a credible growth narrative.
• Dividend track record, but with no firm future commitment.
• Book is fully underwritten for public tranches, adding confidence in deal closure and aftermarket support.
• Promoter lock-ups ensure alignment, but concentrated control may weigh on governance considerations for some investors.
• Risks include promoter dominance, sector competition, and lack of price stabilization.

Inferred outlook: OGX’s IPO presents a compelling case for investors seeking exposure to Malaysian and regional technology growth, supported by strong financials and a clear use-of-proceeds plan. First-day performance is likely to be robust, with the offer price of RM0.35 per share appearing attractive based on recent profit growth and sector tailwinds. However, investors should monitor aftermarket liquidity and promoter influence.

Where to Obtain the Prospectus

The prospectus is available at www.bursamalaysia.com

How to Apply

• Application channels: Through participating organizations of Bursa Securities, members of the Association of Banks in Malaysia, and members of the Malaysian Investment Banking Association.
• Application period: Opens 10:00 a.m. 12 February 2026 and closes 5:00 p.m. 2 March 2026.
• Application forms: Available only in hard copy from designated locations; not available electronically.

Investors are urged to read and understand the entire prospectus before applying.