SLGC IPO Review: Oversubscribed 3.1 Times, but Profit Fell the Year It Went Public

SLGC Berhad’s ACE Market IPO closed 3.06 times oversubscribed. The Johor construction group lists tomorrow, 6 October, carrying a nearly RM1 billion order book — and a profit line that fell in the year before going public.

The balloting breakdown

• The order book stood near RM1 billion as at 12 August 2026 — about three times FY2025 revenue.
• Bumiputera and private-placement tranches were fully subscribed, taking up the other 77 million of the 105 million new shares.

IPO price vs. RHB’s fair value

• RHB’s fair value leans on FY2027 earnings — a forecast two years beyond SLGC’s last reported results.

Thinking of applying for the next Bursa IPO? Compare brokers first, or see how EcoSys’s 206.7× oversubscribed debut compares when it lists eight days later.

What to watch

• 6 Oct 2026SLGC lists on the ACE Market. Its first-day close is what matters, not the open.
• 14 Oct 2026EcoSys lists on the ACE Market — this cycle’s most oversubscribed debut at 206.7×.

Sources & further reading

• DagangNews — IPO SLGC terlebih langgan 3.1 kali menjelang penyenaraian di Pasaran ACE pada 6 Oktober
• New Straits Times — SLGC IPO oversubscribed 3.1 times ahead of ACE Market listing
• The Edge Malaysia — Builder SLGC prices ACE Market IPO at 28 sen to raise RM29.4 mil
• The Star — ACE Market-bound SLGC aims to raise RM29.4mil via IPO
• Bursa Malaysia — SLGC Berhad prospectus exposure