KUALA LUMPUR, 8 December 2025 — BMS Holdings Berhad (KLSE:BMS) made its ACE Market debut with a weaker-than-expected opening, beginning trade at 19.5 sen, down 2.5 sen or 11.4% from its initial public offering (IPO) price of 22 sen. The counter extended losses shortly after, falling to 18 sen or 18.18% at 10:12am with 82.72 million shares traded.
The Johor-based retailer and distributor of tiles, stone surfaces, bathware and kitchenware pushed ahead with its listing despite the soft first-day sentiment. The Group is listed under the stock name BMS and stock code 0385.
Over Three Decades of Growth Into a Nationwide Surface Coverings Provider
Founded over 32 years ago as a single tile outlet in Johor Bahru, BMS Holdings has expanded into a nationwide surface coverings specialist under the well-known “Jubin BMS” brand. The Group today operates 20 retail showrooms across Malaysia, 16 in Peninsular Malaysia and 4 in Sarawak, supported by multiple distribution centres and warehousing hubs.
Its portfolio includes a wide range of in-house brands for tiles and stone surfaces such as BMS Porcelain, Marmo Grande, Rubino, Batu Gergasi, Moderica Surfaces, Brelife Coverings, and bathware/kitchenware brands eurano and U+BMS.
IPO Proceeds to Accelerate Expansion and Technology Upgrades
Through its IPO, BMS Holdings raised RM80.08 million via the issuance of 364.0 million new shares at RM0.22 per share. The proceeds will be allocated as follows:
- RM34.28 million: expansion of operations and facilities
- RM17.00 million: upgrading existing facilities and ICT systems
- RM4.00 million: marketing activities
- RM18.80 million: working capital
- RM6.00 million: listing expenses
An additional 156.0 million existing shares were offered to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Management: “A Proud Milestone and the Start of a New Chapter”
Managing Director Ang Kwee Peng said the listing marks a significant moment in the Group’s evolution:
“Today’s listing marks a proud milestone in our journey from a small tile retailer to one of Malaysia’s most trusted names in surface coverings.
The positive market reception reflects strong investor confidence in our brand, business fundamentals, and expansion plans.
The funds raised will enable us to strengthen our nationwide presence, enhance our supply chain efficiency, and elevate our customer experience. We are excited to begin the next chapter of growth and remain committed to delivering long-term value.”
Alliance Islamic Bank Berhad serves as the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO.
