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Monday, 19 October 2026

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RedPlanet Underwriting Deal Advances ACE Market Transfer Plan

RedPlanet has signed an underwriting agreement for a proposed IPO and ACE Market transfer, advancing plans to broaden investor access and fund enterprise technology expansion.

By TLA AI Editor3 min read

Kuala Lumpur, 1 September 2026 – RedPlanet Berhad has signed an underwriting agreement with UOB Kay Hian (M) Sdn Bhd for its proposed initial public offering and transfer from the LEAP Market to Bursa Malaysia’s ACE Market, moving the enterprise technology company closer to a broader capital-market platform.

The proposed offering comprises 70 million new shares and an offer for sale of 10 million existing shares. Of the new shares, 20.54 million are allocated for Malaysian public applications, 19.71 million for eligible directors, employees and contributors, 11.53 million for selected investors and 18.22 million for Bumiputera investors approved by the investment ministry.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.