Last updated on December 25, 2025
KUALA LUMPUR: Generator rental services provider Express Powerr Solutions (M) Bhd (Express Powerr) has seen strong investor demand for its upcoming ACE Market debut, with its initial public offering (IPO) oversubscribed 13.55 times.
The company, which has been operating for over 20 years, provides rental generators and ancillary equipment including distribution boards, transformers, switchgears, load banks, and cables. Its fleet of 115 generator units is made up of more than 70% mobile truck-mounted units for quick deployment, with the remainder being canopy generators designed for outdoor and noise-sensitive environments.
IPO details and investor response
Express Powerr’s IPO involves a public issue of 180 million new shares at RM0.20 per share, representing 19.26% of enlarged issued shares and raising RM36 million. An additional 65.41 million existing shares will be offered via private placement to Bumiputera investors approved by MITI.
Applications for the 46.72 million shares allocated to the public drew 8,338 applications for 679.95 million shares, worth about RM135.99 million.
- The Bumiputera portion was oversubscribed 9.92 times with 4,097 applications for 255.13 million shares.
- The public portion was oversubscribed 17.18 times, attracting 4,241 applications for 424.82 million shares.
Shares allocated to directors, employees, and contributors to the Group’s success were fully taken up, while private placement tranches were also fully placed out.
Positioning for growth
Managing director Lim Cheng Ten (林青田) said the IPO interest underlines investor confidence in Express Powerr’s role in supporting critical industries.
“The encouraging response to our IPO shows that investors recognise the importance of what we do in keeping industries and communities powered without disruption. Reliable power is no longer just a convenience; it is mission critical,” Lim said.
He added that IPO proceeds will be used to expand the company’s fleet, strengthen operations, and enhance service capacity.
Express Powerr, an approved vendor for Tenaga Nasional Bhd since 2021 and a service provider to Sabah Electricity Sdn Bhd, serves a broad customer base spanning utilities, manufacturing, construction, events, and government agencies.
The company is scheduled to list on Sept 24, 2025, with an expected market capitalisation of RM186.89 million based on the issue price and an enlarged issued share capital of 934.45 million shares.
Mercury Securities is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.
