Adnex Group secures underwriting agreement for ACE Market listing

Adnex Group, a leading Malaysian interior fit-out firm, has entered an underwriting agreement with Public Investment Bank Berhad as part of its forthcoming listing on the ACE Market of Bursa Malaysia Securities Berhad.

The company provides end-to-end interior fit-out solutions for corporate offices, F&B outlets, and sales galleries, completing projects across local and multinational clients.

The underwriting arrangement covers 40 million shares, including allocations for the Malaysian public and the company’s directors, employees, and contributors to its growth. Adnex’s initial public offering will comprise 90.5 million new shares and 39.5 million existing shares.

With over 20 years of operational experience through its principal subsidiary, Adnex Interior Solution Sdn. Bhd., the group has developed a strong reputation for high-quality fit-outs that actualise design concepts into functional interior spaces.

“Our listing will provide the financial foundation to enhance our operational capacity, expand regionally into East Malaysia and selected overseas markets, and invest in technology and equipment upgrades to strengthen our competitive edge,” said Mr Kan Wai Chun, managing director of Adnex.

Bursa Malaysia Securities approved the listing on 25 September 2025. The move positions Adnex to leverage its expertise in interior fit-outs while supporting planned growth, modernisation of its operational processes, and investment in technology. The IPO is expected to bolster the firm’s ability to undertake larger and more complex fit-out projects across the region.

The agreement underscores the continued demand for high-quality interior fit-outs in Southeast Asia and demonstrates Adnex’s strategic approach to scaling its business while maintaining service quality and design execution.

Read the full article to explore Adnex’s ACE Market listing strategy and expansion plans.

Photo credits to Mr Kan Wai Chun’s Instagram