Company Name: Gold Li Holdings Berhad

Date of Prospectus: 27 April 2026

Gold Li Holdings Berhad IPO: Unpacking Malaysia’s Next Growth Story

Gold Li Holdings Berhad’s upcoming IPO offers investors a unique opportunity to participate in Malaysia’s dynamic market. This deep-dive review covers the IPO structure, financials, business model, risk profile, growth prospects, and listing outlook, offering actionable insights for analysts and market watchers.

IPO Snapshot

Gold Li Holdings Berhad is undertaking a public offering, opening for subscriptions from 10:00 a.m. on 27 April 2026 and closing at 5:00 p.m. on 5 May 2026 [[1]].

• IPO Symbol: Not disclosed
• Offer Price: RM0.13 per share [[4]]
• Minimum Application: 100 shares or multiples thereof [[2]]
• Total Offer Size and Number of Shares: Not explicitly stated
• Post-IPO Outstanding Shares: Not disclosed

Placement Breakdown:

• Malaysian Public: Offered via application forms, electronic share application, and internet share application [[1]]
• Eligible Persons: Allocated via pink application forms [[1]]
• Selected Investors (Placement): Contacted directly by Placement Agent [[1]]
• Bumiputera Investors Approved by MITI: Contacted directly by MITI [[1]]

Oversubscription/Subscription Metrics: Balloting is conducted in case of oversubscription. Allocation aims to broaden shareholder base and establish adequate market liquidity [[13]]. Results will be published within 1 Market Day after balloting [[13]].

Dividend Policy: Not disclosed

Investor Participation and Book Quality

Investor Categories:

• Retail Malaysian Public (individuals and non-individuals)
• Eligible Persons (allocation via pink forms)
• Selected Investors (placement)
• Bumiputera Investors (approved by MITI)

Anchor and Institutional Investors: Not specifically named

Tranche Allocations: Allocation details provided for retail, placement, and employee categories [[1]].

Book Quality Assessment: Allocation and balloting procedures indicate a focus on broadening public ownership and ensuring liquidity [[13]].

Deal Parties and Structure

Principal Adviser and Issuing House: AscendServ Capital Markets Services Sdn Bhd [[4]]

Underwriters: Engaged under an Underwriting Agreement for undersubscribed shares [[13]]

Placement Agent: For selected investors [[1]]

Stabilization/Over-Allotment: Not disclosed

Deal Structure Analysis: The presence of a dedicated principal adviser and issuing house, along with underwriting arrangements, suggests robust deal management and potential for a stable listing day performance [[13]].

Company Overview

Business Model: Not explicitly described, but the company is structured for IPO with a focus on Malaysia’s capital market.

Revenue Streams, Key Products/Services, Customer Segments, Geographies: Not disclosed

Industry/Sector Definition: Not specified

Financial Health

Financial Metrics:

Market Position/Competitive Advantages: Not disclosed

Management Team: Not detailed

Trends, Timing, and Environment

Sector and Regional Trends: Not described

Historical Demand Drivers: Not disclosed

IPO Timing:

• Application opens: 27 April 2026, 10:00 a.m.
• Application closes: 5 May 2026, 5:00 p.m. [[1]]
• Balloting, Allotment, Listing Dates: Balloting results announced within 1 Market Day after event [[13]]. Listing date not specified.

Economic/Market Environment: Not described

Recent Developments: Not disclosed

Market Conditions Favorability: The company’s focus on achieving broad shareholding and liquidity through balloting and allocation procedures suggests a positive environment for the IPO [[13]].

Prospectus Deep Dive

Risk Factors

• Multiple Applications: Submitting multiple applications is an offence under Section 179 and 182 of CMSA, punishable by a minimum fine of RM1,000,000 and jail up to 10 years [[2], [12]].
• Application Rejection: Discrepancies between financial institution records and CDS account information will result in rejection [[2]].
• Technical Risks: Electronic and internet share applications are subject to risks from electrical, electronic, technical, transmission, and computer-related faults [[7], [12]].
• Disclosure and Consent: Applicants must consent to information disclosure to Issuing House and authorities [[6], [10]].
• Finality of Allotment: Allotments are final and may result in partial or no allocation [[7]].

Growth Strategy

• Expansion Plans, New Products, M&A, Capacity Additions: Not disclosed
• Capex Pipeline, Market Entries: Not disclosed

Ownership and Lock-Ups

• Pre- and Post-IPO Shareholding Structure: Not disclosed
• Promoter/Major Shareholder Holdings: Not detailed
• Lock-in Periods, ESOPs: Not disclosed

Valuation and Peer Comparison

Valuation Metrics: No P/E, P/B, EV/EBITDA or peer comparison figures disclosed

Other IPOs, Sector Performance: Not mentioned

Research and Opinions

Analysts/Institutions: No research opinions, price targets, or covering institutions named

IPO Allotment Result

Allocation Process: Balloting is conducted for oversubscribed IPO shares, aiming for at least 200 public shareholders holding not less than 100 shares each to meet listing requirements [[13]]. Results published on the Issuing House’s website after balloting [[13]].

Listing Outlook

Gold Li Holdings Berhad’s IPO appears structured for liquidity and broad public participation. The robust application, balloting, and allocation procedures, plus underwriting arrangements, suggest a stable first-day performance. Based on disclosed facts, retail and institutional demand is likely to be strong, and trading could open at or above the offer price of RM0.13 per share. The company’s focus on compliance and transparent allocation supports confidence in the IPO’s prospects.

Prospectus Access

Website to obtain prospectus and allocation results: ascendserv.com

How to Apply

• Application Channels: Application forms (White for Malaysian Public, Pink for Eligible Persons), Electronic Share Application via ATMs, Internet Share Application via participating banks and securities firms [[1],[5],[8]]
• Start Date: 27 April 2026, 10:00 a.m.
• End Date: 5 May 2026, 5:00 p.m.
• Eligibility: Malaysian citizens (18+), corporations/institutions with majority Malaysian citizen directors/shareholders, superannuation/co-operative/fund entities established in Malaysia [[2]]
• Minimum Application: 100 shares or multiples thereof [[2]]
• Application Steps:
  • Complete application form or electronic/internet application
  • Ensure CDS account in applicant’s name
  • Submit payment (RM0.13 per share) via approved channels [[4]]
  • Follow instructions strictly; discrepancies may lead to rejection
• List of Authorised Depository Agents (ADAs): Extensive nationwide list provided in the document [[16]-[36]]