KUALA LUMPUR: Data centre engineering services provider MyDCD Bhd expects to raise RM187.6 million from its initial public offering (IPO) ahead of its listing on Bursa Malaysia's ACE Market on Nov 17.
The company today launched its IPO prospectus, offering shares at 56 sen apiece, with the listing expected to give it a market capitalisation of about RM1 billion.
The IPO comprises a public issue of 335 million new shares to raise RM187.6 million for the company and an offer for sale of 145 million existing shares through private placement, expected to raise RM81.2 million for the selling shareholders.
Of the proceeds from the public issue, RM134 million will be used for working capital, primarily to support project execution and fund performance bonds.
Another RM39.9 million will go towards expanding operations through additional recruitment, office rental and staff training, while RM5 million will be allocated to enhance information technology systems.
The balance will cover listing expenses.
MyDCD, which specialises in integrating mechanical, electrical, plumbing and fire protection (MEPF) systems for critical infrastructure, particularly data centres, recorded revenue of RM666.03 million and net profit of RM66.8 million for the financial year ended June 30, 2026 (FY26).
Revenue and net profit grew at a compound annual growth rate of 52.8 per cent and 58.48 per cent respectively between FY23 and FY26.
As at Sept 30, the company had an outstanding order book of RM1.32 billion, equivalent to about 1.98 times its FY26 revenue.
Of the total, RM1.27 billion came from data centre MEPF integration projects, while RM53.08 million was from maintenance services.
The order book is expected to be progressively recognised as revenue up to FY32.
The company also provides maintenance services and parts for completed data centres, with 76 active maintenance contracts as at Sept 30.
These contracts typically last between one and five years.
MyDCD chief executive officer Chris Ow Yong said the company's experience in data centre projects across Tier I to Tier IV classifications had helped it establish long-standing relationships with key customers, some spanning about 15 years.
Its work covers the MEPF integration process, from engineering support, supply and installation to testing and commissioning.
"As project requirements become more demanding, having the right technical capabilities, experienced personnel and working capital is essential," he said in a statement.
Ow Yong said the IPO proceeds will support project execution, including performance bonds, while strengthening the company's workforce and systems to support growth.
According to an independent market research report in the IPO prospectus, Malaysia's MEPF construction market grew at a compound annual growth rate of 15 per cent between 2023 and 2025, reaching RM10.4 billion in 2025.
The market expanded by a further 18.1 per cent in the first half of 2026 from the same period a year earlier.
Malaysia recorded RM385.7 billion in data centre-related investments between 2021 and the first half of 2026.
Ow Yong said growing artificial intelligence adoption was increasing data centres' requirements for computing power, cooling and energy management, making MEPF systems increasingly important.
The company will focus on strengthening its execution capabilities to meet evolving customer requirements and pursue opportunities as the industry develops.
TA Securities Holdings Bhd head of corporate finance Ku Mun Fong said the listing would strengthen MyDCD's corporate profile and provide access to capital for its next phase of development.
Applications for MyDCD's IPO opened today and will close on Nov 2 at 5pm.
TA Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.
MyDCD's shares have been classified as Shariah-compliant by the Securities Commission's Shariah Advisory Council.
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