KUALA LUMPUR, 22 October 2025 — BMS Holdings Berhad (“BMS Holdings” or “the Company”), one of Malaysia’s most established retailers and distributors of tiles, stone surfaces, bathware, and kitchenware, has signed an underwriting agreement with Alliance Islamic Bank Berhad (“AIS”) to pave the way for its upcoming Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
This marks a major milestone in BMS Holdings’ corporate journey as the company prepares to tap the capital market to accelerate its next phase of growth. The IPO will see a combined offering of 520 million shares, comprising a public issue of 364 million new shares and an offer for sale of 156 million existing shares, representing 33.77% of its enlarged share capital of 1.54 billion shares.
Expanding a 30-Year Legacy in Surface Coverings
Founded in 1993, BMS Holdings has evolved from a single-store retail operation into one of Malaysia’s leading brands in surface coverings and home improvement solutions. Through its subsidiaries, the Group manages a portfolio of highly recognisable in-house brands, including BMS Porcelain, Marmo Grande, Rubino, Batu Gergasi, Moderica Surfaces, and Brelife Coverings, alongside eurano and U+BMS for bathware and kitchenware.
Over the years, BMS Holdings has become a trusted one-stop solution for developers, contractors, designers, and homeowners seeking premium and innovative surface materials. The Group’s product diversity and consistent supply chain reliability have made it a preferred partner in Malaysia’s construction and interior design ecosystem.
IPO Structure and Underwriting Confidence
The underwriting agreement with Alliance Islamic Bank covers 138.6 million shares of the total IPO issuance, underscoring the bank’s confidence in BMS Holdings’ fundamentals and growth potential. AIS will also act as the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO.
The breakdown of the public issue includes:
- 77 million shares (5%) offered to the Malaysian public,
- 61.6 million shares (4%) reserved for eligible directors, employees, and contributors,
- 188.9 million shares (12.27%) placed with selected investors, and
- 36.5 million shares (2.37%) allocated to approved Bumiputera investors under MITI.
Meanwhile, the 156 million offer-for-sale shares (10.13%) will also be placed with MITI-approved Bumiputera investors.
Scaling Growth and Expanding Nationwide Reach
BMS Holdings Managing Director Mr. Ang Kwee Peng said the underwriting marks a pivotal step towards realising the company’s expansion strategy.
“This agreement signifies a key milestone in our IPO journey. With the support of Alliance Islamic Bank, we are confident of achieving a successful listing that will enable us to scale operations, enhance our retail network, and strengthen our brand presence nationwide,” said Ang.
He added that proceeds from the IPO will be used to finance the Group’s expansion of retail showrooms, construction of a new regional distribution centre, upgrades to operational facilities and ICT infrastructure, as well as marketing and working capital.
“These strategic investments will allow BMS Holdings to meet evolving consumer expectations and cement our leadership in Malaysia’s fast-growing surface coverings and home improvement sectors,” Ang added.
Strong Market Presence and Customer Base
BMS Holdings’ growth is anchored by an extensive and loyal customer base of nearly 49,700 active clients as of FY2024. This includes around 40,700 end-users, 8,500 trade professionals, 200 building contractors and property developers, and 300 resellers nationwide.
Its BMS Loyalty Programme, which has over 31,500 active members, continues to drive repeat business through personalised rewards, discounts, and technical support, reinforcing brand engagement and long-term customer retention.
With its multi-channel sales model covering retail, wholesale, and project-based segments, BMS Holdings is strategically positioned to capture rising demand in Malaysia’s home renovation, construction, and interior design markets.
Looking Ahead: Reinforcing Market Leadership
As BMS Holdings prepares for its ACE Market debut, the Group is charting an ambitious growth roadmap to scale both organically and through strategic investments. The IPO proceeds will strengthen its financial flexibility, expand its brand ecosystem, and support its transition towards a more digitally integrated, customer-centric business model.
Alliance Islamic Bank’s involvement, Ang noted, reflects strong institutional confidence in the company’s fundamentals and Malaysia’s broader consumer and construction growth trajectory.
“Our goal is to elevate BMS Holdings into a market leader synonymous with quality, design excellence, and innovation, creating lasting value for our customers and shareholders,” Ang concluded.
