Pentech Holdings Berhad

Bursa Ticker: PENTECH | Listing Year: 2026

Offer Price

RM 0.20

Sifu Target Price

RM 0.33 (+65.0%)

Retail Oversubscription

121.0x

Underwriter (IB)

Public Investment Bank

Key Dates & Offering Details

Application Closing 29-May-2026

Listing Date 15-Jun-2026

Target P/E Ratio 9x

Total Enlarged Shares 407.61 M

Free Float 20.0%

MITI Special Allocation No Tranche

Analyst Commentary & Hunter Insight

🚀 EXCEPTIONAL DEMAND (GRADE A)
• Massive Demand: High 120.98x retail oversubscription sponsored by Public Investment Bank.
• Debut Surge: +45% opening surge to RM0.29 with strong continuation to ATH RM0.355.
• Profile: Top-tier momentum scalp and trend-following setup.

Growth Catalysts & Strategic Moats

Sebab Apply: Cincai-cincai kira sasaran ada potensi peningkatan 9 sen (+45% upside potential) daripada harga IPO RM0.20.
Catalyst Utama: Pentech berjaya pelbagaikan perniagaan ke sektor bermargin tinggi (menyumbang dari 9% meningkat ke 30% hasil melalui cloud/managed services).
Wow Factor: Sektor ICT infra mungkin hambar tetapi peningkatan margin cloud menaikkan profitability syarikat secara ketara.

Financial Performance Summary

Financial Metric	FY23	FY24	FY25	Projected (FY F)
Revenue (RM)	85.00 M	110.00 M	138.00 M	202.21 M
Profit After Tax (PAT)	6.28 M	8.10 M	10.20 M	14.95 M
EPS (sen)	1.54	1.99	2.50	+40.0%

Utilization of Proceeds

Purchase of new machinery, facility upgrading, and business expansion

Peer Comparison & Valuation Context

Peer Comparison: ICT peers average PE ~8x, CP PE ~12x, manakala Infotec PE ~118x (disebabkan loss making tahun lepas). Valuation owner PE 11x, tapi forward PE sifu hanyalah 6.50x!

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