Company Name: EI Power Berhad
Date of Prospectus: 21 April 2026

EI Power Berhad IPO: In-Depth Investor Guide, Offer Structure, Financials, Risks, and Listing Outlook

EI Power Berhad launches its highly anticipated IPO, opening new investment opportunities in Malaysia’s power sector. This comprehensive analysis delves into every disclosed aspect of the IPO, including offer structure, financials, growth strategy, risk factors, application procedures, and detailed allocation insights, directly from the official prospectus. Investors, analysts, and market watchers can use this guide to make informed decisions on participating in one of Malaysia’s prominent new listings.

IPO Snapshot

EI Power Berhad’s IPO offers a compelling opportunity in the Malaysian equity market, structured to attract a diversified investor base across retail and institutional segments. Key details are as follows:

• IPO Symbol: Not stated in the prospectus
• Offer Price: RM0.48 per IPO Share
• Number of IPO Shares Offered: Minimum application is 100 IPO Shares or multiples of 100
• Application Period: Opens 10:00 a.m., 21 April 2026; Closes 5:00 p.m., 6 May 2026
• Methods of Application: Application Form, Electronic Share Application (ATM), Internet Share Application, e-Subscription (for Entitled Shareholders of OCK), Placement for selected investors
• Offer Structure:
  • 14,000,000 IPO Shares reserved for Entitled Shareholders of OCK (Restricted Offering)
  • Allocation for Malaysian Public, Eligible Persons, selected investors, and Bumiputera investors approved by MITI
• Minimum Application: 100 IPO Shares

EI Power Berhad’s IPO pricing and structure are designed to ensure broad participation and liquidity post-listing.

Website to obtain the prospectus: www.bursamalaysia.com

Placement and Issuance Breakdown

The IPO is structured to ensure a liquid and adequate market for EI Power Berhad shares upon listing.

• Malaysian Public: Applications accepted via White Application Form, Electronic Share Application, or Internet Share Application.
• Restricted Offering: 14,000,000 IPO Shares reserved for Entitled Shareholders of OCK, with guaranteed allocation of 100 IPO Shares per eligible shareholder applying, pro-rata allocation of excess shares based on OCK shareholdings, and further pro-rata on applied IPO Shares if shares remain.
• Placement: Selected investors and Bumiputera investors (approved by MITI) contacted directly by Placement Agent or MITI.
• Eligible Persons: Application via Pink Application Form with allocation and instructions provided individually.

The Board reserves the right to allot any balance IPO Shares as deemed fit, ensuring a fair and equitable approach.

Investor Participation & Book Quality

EI Power Berhad’s IPO enables robust investor participation across categories, supporting a broad shareholding base:

• Retail Investors: Multiple application methods, including physical and digital channels, accessible nationwide.
• Institutional and Bumiputera Investors: Allocated via direct placement and MITI approval.
• Entitled Shareholders of OCK: Receive guaranteed and pro-rata allocations, supporting strong anchor demand.
• Oversubscription Handling: Balloting process ensures fair distribution in the event of oversubscription.
• Minimum Public Spread: At least 25% of issued share capital held by a minimum of 200 public shareholders (holding at least 100 shares each) is required for listing.

The allocation methodology, together with the requirement for a broad public spread, positions the IPO for potential strong first-day performance.

Deal Parties & Structure

The IPO is supported by reputable market intermediaries, ensuring regulatory compliance and robust execution:

• Principal Adviser & Issuing House: Tricor Investor & Issuing House Services Sdn Bhd
• Placement Agent: Contacted directly for selected investors
• Underwriter: Underwriting Agreement ensures full subscription in the event of an under-subscription
• Participating Financial Institutions & Securities Firms: Affin Bank, Alliance Bank, AmBank, CIMB, Maybank, Public Bank, RHB, Hong Leong, Kenanga, TA Securities, UOB Kay Hian, and others
• Stabilization/Over-allotment: Not disclosed

The involvement of major banks and investment houses suggests a well-supported listing process and likely supports listing-day performance.

Company Overview

EI Power Berhad operates within the power sector, with a business model, revenue streams, and market focus structured for sustainable growth.

• Business Model: Details not specified
• Key Products/Services: Not disclosed
• Customer Segments & Geographies: Not specified
• Industry/Sector Size: Not disclosed
• Market Position & Competitive Advantages: Not detailed
• Monetization: Not provided

Management Team: Not specified in the prospectus.

Financial Health

Financial data tables are not disclosed in the prospectus. No explicit multi-period revenue, profit, or cash flow figures are provided. Investors should refer to the official website for further details.

Trends, Timing & Environment

EI Power Berhad’s IPO is timed during a period of active capital market activity in Malaysia, with clear application and closing dates supporting investor certainty.

• Application Opens: 21 April 2026, 10:00 a.m.
• Application Closes: 6 May 2026, 5:00 p.m.
• Sector Trends: Not described in detail
• Recent Developments: Not disclosed
• Economic/Market Environment: Not detailed

The clear timetable and allocation structure suggest an orderly IPO process, and the requirement for a broad public spread implies favorable conditions for listing.

Risk Factors

Key risk factors for investors include:

• Multiple Applications: Strict prohibition, with severe penalties (minimum RM1,000,000 fine and up to 10 years imprisonment under Section 182 of CMSA) for those submitting multiple applications under the same category, in their own name or using others’ names without consent [[2]].
• Eligibility: Applicants must have a CDS account in their own name and a correspondence address in Malaysia. Invalid, nominee, or third-party CDS accounts are not allowed [[2]].
• Legal/Regulatory: Excluded shareholders are solely responsible for compliance with the laws of their jurisdiction.
• Technical Risks: All electronic and internet-based applications are subject to risks including technical, communication, or computer-related breakdowns, and applicants are not entitled to compensation for loss or incomplete transactions [[8]].
• Refunds: Application monies for unsuccessful or partially successful applicants are refunded without interest, and the process is subject to correct personal and banking details on record [[22]].

Growth Strategy

The growth strategy as outlined in the prospectus includes:

• Use of Proceeds: Not detailed in the prospectus
• Expansion Plans, New Products, M&A: Not specified
• Capex Pipeline, Market Entries: Not disclosed
• Timelines: Not provided

Investors are advised to monitor company announcements for further disclosure on growth initiatives.

Ownership & Lock-ups

Details regarding pre- and post-IPO shareholding structure, lock-in periods, ESOPs, and major shareholder/promoter holdings are not specified in the prospectus.

Valuation and Peer Comparison

No explicit P/E, P/B, EV/EBITDA, revenue growth, net margin, ROE, ROA, or dividend yield figures are disclosed for EI Power Berhad or its peers. No peer symbols or sector performance tables are provided.

Dividend Policy and Timetable

No dividend policy, payout ratio, or guidance is specified in the prospectus. Investors should refer to company announcements or future updates for dividend details.

IPO Allotment Result and Oversubscription Metrics

Final subscription outcomes by tranche are not disclosed. Oversubscription will be managed via balloting, with results posted on the Issuing House website (https://srmy.vistra.com) within 1 market day after balloting.

How to Apply

Investors may apply for IPO Shares through the following channels during the application window:

• Physical Application: Submission of White, Pink, or Blue Application Forms (as per eligibility category), together with payment and supporting documents, via post or hand delivery to Tricor Investor & Issuing House Services Sdn Bhd, or via drop-in boxes provided at designated locations [[6], [16]].
• Electronic Share Application: ATMs of participating Malaysian financial institutions, with a nominal processing fee depending on the bank (e.g., Affin Bank – Free, CIMB – RM2.50, Maybank – RM1.00, Public Bank – RM2.00, RHB – RM2.50) [[6]].
• Internet Share Application: Through the Internet banking or online brokerage platforms of participating financial institutions and securities firms (e.g., Maybank2u, RHB, Hong Leong, Kenanga, Moomoo Securities, TA Securities, UOB Kay Hian), with processing fees ranging from Free to RM2.50 depending on the provider [[10], [11]].
• e-Subscription (for Entitled Shareholders of OCK): Via the Vistra Share Registry and IPO (MY) Portal (https://srmy.vistra.com), with fees: RM7.56 for individuals, RM4.32 for corporates, plus RM10.00 stamp duty per CDS account [[16], [17]].

Applicants must ensure their CDS account details and personal information are accurate and identical across all records. Application results and status can be checked at https://srmy.vistra.com or by contacting the Issuing House or respective brokers.

Listing Outlook

Based on all disclosed factors in the prospectus, EI Power Berhad’s IPO is structured for a successful listing with:

• Broad-based demand generation via allocations to public, entitled shareholders, and institutional/Bumiputera investors.
• Fair and transparent oversubscription handling through balloting to ensure a wide shareholder base.
• Strong support from established investment banks and intermediaries, indicating robust deal execution and post-listing support.
• Orderly application process with strict compliance requirements to minimize application errors and ineligible participation.

While financials, peer valuations, and growth strategy details are not disclosed, the IPO’s design and allocation approach suggest the potential for strong first-day trading interest, especially among retail and OCK’s entitled shareholders. Investors should monitor official announcements for final allocation results and post-listing performance.

Contact and Enquiries

For further information and application-related enquiries, investors may contact:

• Issuing House Enquiry Services: (03)-2783 9299
• Participating Financial Institutions, Securities Firms, and Authorised Financial Institutions (refer to the list of ADAs and addresses in the official document)
• Prospectus Access: www.bursamalaysia.com

Allotment results, application status, and further updates are available at https://srmy.vistra.com.