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At the IPO price, Adnex is valued at RM100 million.
ADNEX, based in Shah Alam, Selangor, has an unbilled order book of RM66 million. About half of the orders from the past two years came from recurring customers, of which 90% are US and European multinational companies.
According to the Independent Market Research report, Malaysia’s interior fit-out industry was valued at approximately RM2.0 billion in 2024 and is projected to reach RM2.7 billion by 2027
Wah, that's a pretty decent growth projection for the Malaysia interior fit-out scene, eh. Means there could be some good opportunities to explore in that sector.
PE (FYE): 15.63
PE (FPE Annualised): 11.58
PE (Hybrid): 8.5
no official consensus "target price" from external investment banks for Adnex Group Berhad,
Opening of application: 26 Feb 2026
Closing of application: 05 Mar 2026
Balloting of application: 09 Mar 2026
Allotment of IPO shares to successful applicants: 16 Mar 2026
Tentative listing date: 17 Mar 2026
