KUALA LUMPUR, MY / ACCESS Newswire / March 10, 2026 / Adnex Group Berhad (" Adnex " or the " Company "), which is primarily involved in the provision of interior fit-out services, is pleased to announce that the public portion of its Initial Public Offering (" IPO ") has been oversubscribed by 3.23 times, reflecting investor confidence in the Company's two-decade operating history, established industry track record, and strategic expansion plans across Malaysia and beyond.

To recap, Adnex's IPO comprises a public issue of 90.50 million new ordinary shares and an offer for sale of 39.50 million existing shares, structured as follows:

Public Issue

• Malaysian Public:

  • 25.00 million shares or 5.00% of the enlarged issued share capital will be made available for application by the Malaysian public.

• Eligible Persons:

  • 15.00 million shares or 3.00% of the enlarged issued share capital will be allocated to eligible directors, employees, and other persons who have contributed to the success of the Company and its subsidiaries (" Group ").

• Private Placement to Selected Investors:

  • 27.50 million shares or 5.50% of the enlarged issued share capital are reserved for private placement to selected investors.

• Private Placement to Bumiputera Investors:

  • 23.00 million shares or 4.60% of the enlarged issued share capital are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia (" MITI ").

Offer for sale

• Offer for sale of 39.50 million existing shares or 7.90% of the enlarged issued share capital by way of private placement to Bumiputera investors approved by the MITI.

The Company received a total of 3,362 applications for 105,851,300 issue shares from the Malaysian public, representing an overall oversubscription rate of 3.23 times.

• Under the Bumiputera public portion, Adnex received 1,237 applications for 19,870,200 issue shares, translating to an oversubscription rate of 0.59 times.

• Under the other Malaysian public portion, Adnex received 2,125 applications for 85,981,100 issue shares, representing an oversubscription rate of 5.88 times.

Mr. Kan Wai Chun, Managing Director of Adnex Group Berhad

Mr. Kan Wai Chun, Managing Director of Adnex Group Berhad , commented: "We are deeply encouraged by the response from investors and are grateful for the confidence placed in Adnex. The positive reception of our IPO reflects recognition of our long-standing reputation for quality craftsmanship, project delivery excellence, and consistent growth. The IPO proceeds will enable us to strengthen our operational capacity, upgrade and enhance our digital infrastructure, and expand our footprint into East Malaysia and selected overseas markets as we continue to deliver value to our clients and shareholders."

Mr. Lee Yo-Hunn, Chief Executive Officer of Public Investment Bank Berhad added: "Given the current global market uncertainties, the oversubscription of Adnex's IPO reflects positive investor sentiment towards the Company's proven operating track record and the growth prospects of Malaysia's interior fit-out industry. With more than two decades of experience, a solid portfolio of corporate clients and a scalable business model, Adnex is well-positioned to capture opportunities arising from the continued expansion of commercial and corporate spaces in Malaysia. We are pleased to support Adnex in this important milestone and look forward to its upcoming debut on the ACE Market."

Adnex Group Berhad is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 17 March 2026 .

Public Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for this IPO.

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ABOUT ADNEX GROUP BERHAD

Adnex Group Berhad ("Adnex" or the "Group") is an interior fit-out services provider with over 20 years of experience through its principal subsidiary, Adnex Interior Solution Sdn. Bhd., established in 2004. The Group provides comprehensive interior fit-out services, including interior fit-out works and turnkey fit-out services for corporate offices, F&B outlets and sales galleries. Headquartered in Shah Alam, Adnex has built a strong reputation for quality craftsmanship, reliability, and timely execution, serving both local and multinational corporations. The Group continues to strengthen its market presence and is expected to expand into East Malaysia and selected overseas markets, supported by its commitment to innovation, operational excellence, and sustainable growth within Malaysia's evolving built environment sector.

For more information, visit https://adnexinterior.com/.

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

For more information, please contact:

Jazmin Wan
Email: j.wan@swanconsultancy.biz

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

SOURCE: Adnex Group Berhad