RedPlanet Berhad Enters Underwriting Agreement Ahead of ACE Market Transfer Listing
KUALA LUMPUR, MY / ACCESS Newswire / September 1, 2026 /RedPlanet Berhad ("RedPlanet" or the "Company"), an enterprise ICT solutions provider specialising in geospatial solutions and intelligent rail solutions, has entered into an underwriting agreement with UOB Kay Hian (M) Sdn Bhd ("UOBKH") in conjunction with its proposed Initial Public Offering ("IPO") and transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").
RedPlanet is principally involved in the provision of geospatial solutions, intelligent rail solutions, as well as the trading of ICT solutions and ancillary hardware. The Company 's geospatial solutions cover data collection, analytics, processing and application, enabling customers to visualise, manage and analyse geographical data for operational planning, navigation, tracking, mapping and asset management, while its intelligent rail solutions are anchored by its proprietary a platform intrusion safety system designed to detect human intrusion on railway platforms.
According to the prospectus exposure, the IPO comprises a Public Issue of 70,000,000 new ordinary shares ("Issue Shares") and an Offer for Sale of 10,000,000 existing shares ("Offer Shares").
The Public Issue comprises:
20,540,000 shares available for application by the Malaysian public;
19,711,200 shares reserved for eligible directors, employees and persons who have contributed to the success of RedPlanet and its subsidiaries;
11,528,600 shares offered by way of private placement to selected investors; and
18,220,200 shares offered by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia ("MITI").
The Offer for Sale comprises 10,000,000 Offer Shares by way of private placement to selected investors. Pursuant to the underwriting agreement, UOBKH will underwrite 40,251,200 Issue Shares of the Company, comprising the shares made available for application by the Malaysian public and Eligible Persons.
Mr. Lian Wah Seng, Executive Director/ Managing Director of RedPlanet Berhadremarked, "The signing of the underwriting agreement represents an important milestone for RedPlanet as we progress closer towards our transfer listing on the ACE Market. Since our listing on the LEAP Market, we have continued to strengthen our enterprise ICT capabilities while expanding our intelligent rail solutions offerings alongside our established geospatial solutions business. The proposed IPO and transfer listing are expected to enhance our corporate profile, broaden investor participation and provide us with a stronger platform to pursue higher-value ICT project and support our long-term growth strategy."
Mr. David Lim, Chief Executive Officer of UOB Kay Hian (M) Sdn Bhdsaid, "We are pleased to support RedPlanet in its proposed transfer listing to the ACE Market. The Company has developed a specialised position within the enterprise ICT solutions sector, supported by its capabilities in geospatial solutions, intelligent rail solutions and its proprietary platform intrusion safety system. We look forward to working closely with the Company as it transitions to the ACE Market and advances its next phase of growth."
Moving forward, RedPlanet intends to participate in higher-value and more complex ICT solutions projects, expand its intelligent rail solutions offering to include Central Transmission System ("CTS") solutions, and strengthen research and development efforts, including the development of an AI-powered asset detection tool to enhance automation, accuracy and operational efficiency within its geospatial solutions business.
UOB Kay Hian (M) Sdn Bhd is the Principal Adviser, Sponsor, Underwriter and Placement Agent for RedPlanet. UOBKH plays a pivotal role in advising the Company throughout the listing process, supporting a smooth execution of the IPO and positioning RedPlanet for its next phase of growth as a publicly listed enterprise ICT solutions provider specialising in geospatial solutions and intelligent rail solutions, while creating long-term value for its shareholders and stakeholders.
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ABOUT REDPLANET BERHAD
RedPlanet Berhad ("RedPlanet" or the "Company") is an enterprise ICT solutions provider principally involved in the provision of geospatial solutions, intelligent rail solutions and the trading of ICT solutions and ancillary hardware. The Company 's geospatial solutions cover data collection, analytics, processing and application, enabling customers to visualise, manage and analyse geographical data for applications including operational planning, navigation, tracking, mapping and asset management. Its intelligent rail solutions are anchored by the proprietary Platform Intrusion Emergency Stop (PIES®) System, a platform intrusion safety system designed to detect human intrusion on railway platforms, as well as related ancillary hardware including BLUCOR®, its proprietary strain-sensitive sensor. RedPlanet has been listed on the LEAP Market of Bursa Securities since 4 August 2020 and is currently undertaking the transfer of its listing to the ACE Market of Bursa Securities.
Issued By:Swan Consultancy Sdn Bhd on behalf of RedPlanet Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Renee Toh
Email: r.toh@swanconsultancy.biz
SOURCE: RedPlanet Berhad
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