KUALA LUMPUR, MY / ACCESS Newswire / September 25, 2026 / KEB Berhad ("KEB" or the "Group"), an established property developer with in-house construction capabilities, focused on residential, industrial, commercial and mixed-use developments in Malaysia, has entered into an underwriting agreement with M & A Securities Sdn. Bhd. ("M & A Securities") in conjunction with its upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").

Since venturing into property development in 2004, KEB has accumulated more than 20 years of experience in developing residential, industrial, commercial and mixed-use properties. The Group is complemented by its in-house construction capabilities via KEB Utama Sdn. Bhd., a CIDB Grade G7 registered contractor, which allows KEB to maintain closer oversight over project execution, quality standards and delivery timelines. To date, KEB has completed 14 property development projects. Its current pipeline comprises 2 ongoing developments with an estimated total gross development value ("GDV") of RM773.29 million, as well as 4 future projects with an estimated total GDV of RM940.74 million.

KEB's IPO comprises a public issue of 138.54 million new ordinary shares and an offer for sale of 88.24 million existing ordinary shares, representing a total of 226.78 million shares. The public issue of 138.54 million new shares is allocated in the following manner:

Public issue

• Malaysian public:
  • 44.12 million shares or 5.00% of the enlarged issued share capital will be made available for application by the Malaysian public.
• Eligible persons:
  • 22.06 million shares or 2.50% of the enlarged issued share capital, will be allocated to eligible directors, employees, and other persons who have contributed to the success of the Group.
• Private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry ("MITI"):
  • 22.06 million shares or 2.50% of the enlarged issued share capital are reserved for private placement to identified Bumiputera investors approved by MITI.
• Private placement to selected investors:
  • 50.30 million shares or 5.70% of the enlarged issued share capital are reserved for private placement to selected investors.

Offer for sale

• Offer for sale of 88.24 million existing shares or 10.00% of the enlarged issued share capital by way of private placement to Bumiputera investors approved by MITI.

Under the agreement, M & A Securities will underwrite a total of 66.18 million new ordinary shares, comprising 44.12 million shares made available for application by the Malaysian public and 22.06 million shares allocated to eligible directors, employees and persons who have contributed to the success of the Group.

Datuk Lim Kim Chong, Managing Director of KEB Berhad, commented, "The signing of the underwriting agreement marks another important milestone in KEB's journey towards our proposed listing on the ACE Market. This IPO represents an important step in strengthening our platform for future growth, as it will support our plans to expand our development pipeline, acquire additional landbank and enhance our financial flexibility as we continue delivering value-accretive property developments."

Datuk Bill Tan, Managing Director of M & A Equity Holdings Berhad added, "We are pleased to formalise this underwriting agreement with KEB as the Group advances towards its proposed ACE Market listing. Backed by more than 20 years of property development experience, an established track record, ongoing and future projects, as well as in-house construction capabilities, KEB is well positioned to leverage the listing as a platform for its next phase of growth."

Datuk Kelvin Khoo, Group Chief Executive Officer of Eco Asia Capital Advisory Sdn. Bhd., said, "KEB's IPO is supported by clear growth drivers, underpinned by its ongoing developments, future launches and available landbank for development. The proceeds to be raised are expected to place the Group in a stronger position to pursue expansion opportunities and support the execution of its medium-term growth plans within the domestic property market."

The proceeds from the public issue are intended for landbank acquisition, working capital for project development, repayment of bank borrowings and defraying listing expenses. With its existing portfolio of completed projects, active pipeline and internal construction capabilities, KEB is well placed to build on its operating track record and pursue further opportunities in its target markets.

M & A Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Placement Agent and Underwriter for this IPO, while Eco Asia Capital Advisory Sdn. Bhd. serves as the Financial Adviser of the IPO.

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ABOUT KEB BERHAD

KEB Berhad ("KEB" or the "Group") is a property developer with more than 20 years of experience in the property development sector, focusing on residential, industrial, commercial and mixed-use developments in Malaysia. The Group is supported by its in-house construction capabilities through KEB Utama Sdn Bhd, a CIDB Grade G7 registered contractor, which enables greater control over project execution, quality and delivery timelines. To date, KEB has completed 14 property development projects and is backed by an active pipeline of ongoing and future developments, as well as a strategic landbank to support its next phase of growth.

For more information, visit https://keb.my.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of KEB Berhad

For more information, please contact:

Jazzmin Wan
Email: j.wan@swanconsultancy.biz

Qian Yu Chow
Email: s.chow@swanconsultancy.biz

SOURCE: KEB Berhad