PETALING JAYA: THMY Holdings Bhd, a provider of automated test solutions for electrical and electronics (E&E) products, has unveiled the prospectus for its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia Securities, scheduled for Oct 23.

Arising from the IPO exercise, THMY is expected to raise about RM44.6 million through the public issue of 143.9 million new ordinary shares at an issue price of 31 sen per share.

The group intends to allocate 58.1% of the proceeds towards the construction of a new factory while 11.7% will be used to pare down its bank borrowings. Additionally, 8.3% will be earmarked for the acquisition of new machinery and equipment, 6.9% will be for working capital requirements while 4.3% will be used for design and development (D&D) as well as research and development (R&D) expenditure. The balance will be for listing-related expenses.

THMY started in 2008, securing its first local sale in Malaysia from an electronic manufacturing service (EMS) company. Over the past 17 years, the group has evolved in the automated test solutions industry. The automated test solutions (in-circuit test and functional circuit test) that the group offers comprise design, development (software), fabrication (hardware), assembly and installation of test fixtures and/or tester platforms. Its customers are primarily EMS and original equipment manufacturer (OEM), being multinational corporations (MNC) across the America, Europe and Asia-Pacific continents.

THMY has recorded strong financial performance over the years, from FY2022 to FY2025, the group’s compound annual growth rate for profit after tax was 96.6%, from RM1.3 million to RM10. million.

Executive director/CEO Ooi Can Nix said, “Today’s IPO prospectus launch is a defining moment for THMY Holdings, marking the culmination of 17 years of hard work, innovation, and an unwavering commitment to excellence as we prepare to list on the ACE Market of Bursa Securities. From our humble beginning in a small office in Perai, Penang, we have grown into a trusted global partner of automated test solutions, evidenced by the number of MNCs that we have served (40 MNC customers in FY2025). This milestone reflects the dedication of our entire team and our shared vision to empower our customers with testing excellence.”

“With the RM44.6 million raised through this IPO, THMY is strategically positioned to fuel our next phase of growth whilst aligning with the 13th Malaysia Plan target of RM1 trillion E&E product exports by 2030. The proceeds will drive the establishment of a new factory, acquisition of new machinery and equipment, and enhanced D&D and R&D capability. This in turn will strengthen our foundation to deliver on our promise of being ‘Your Worldwide Partner for All Your Testing Excellence’. As we stand at the forefront of the rapidly evolving E&E industry, powered by megatrends like AI, datacentres, 5G, and semiconductors, we are committed to contribute to Malaysia’s economic aspirations while continue to innovate for the next 17 years and beyond.”

Application for the public issue will close at 5pm on Oct 9.

Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.

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