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RedPlanet Berhad Debuts On ACE Market With Opening Price Of RM0.27

ACCESS Newswire

KUALA LUMPUR, MY / October 22, 2026 / RedPlanet Berhad ("RedPlanet" or the "Company"), an enterprise ICT solutions provider specialising in geospatial solutions and intelligent rail solutions, made its debut today on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities"), following the transfer of its listing from the LEAP Market. The Company's shares opened at RM0.27 per share, representing a 42.11% premium over its IPO price of RM0.19 per share, reflecting positive market reception and investors' confidence in the Company's fundamentals and growth prospects.

RedPlanet was listed under the stock name "RPLANET" with the stock code "0479".

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 platform intrusion safety system designed to detect human intrusion on railway platforms.

The successful initial public offering of RedPlanet raised RM13.30 million through the issuance of 70.00 million new shares. The proceeds from the IPO will primarily be utilised for the following initiatives:

  • RM8.12 million for business expansion, including procurement of materials and subcontractor services, performance bonds, as well as business development and marketing activities to support the Company's participation in larger-scale ICT solutions projects.

  • RM2.38 million for working capital, including the purchase of software, administrative expenses and other operating expenses to support the Company's ongoing project commitments and operational requirements.

  • RM2.80 million for estimated expenses in relation to the transfer listing, including professional fees, regulatory authorities' fees, underwriting, placement and brokerage fees, as well as other miscellaneous expenses and contingencies.

Mr. Lian Wah Seng, Non-IndependentExecutive Director/ Managing Director of RedPlanet Berhad said, "Today's listing marks a significant milestone in RedPlanet's corporate journey as we successfully transfer from the LEAP Market to the ACE Market. We are grateful for the support shown by investors throughout our IPO process. This achievement reflects the dedication of our team and IPO working group, together with the confidence the investment community has placed in our business fundamentals, technical capabilities and long-term growth prospects."

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