Yes Group Management Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd in preparation for its initial public offering (IPO) and planned listing on the ACE Market of Bursa Malaysia. The company, which operates under the "Yes Travel" brand, specializes in meetings, incentives, conferences, and exhibitions (Mice), offering customized incentive travel and event planning services.

The IPO will consist of a public issue of 91.87 million new shares alongside an offer for sale of 45.93 million existing shares, amounting to a total offering of 137.80 million shares. Of the enlarged issued share capital, 26.50 million shares, equivalent to 5%, will be made available to the public, with half allocated to general public investors and the other half reserved for bumiputra public investors.

Additionally, 5.30 million shares representing 1% are designated for eligible directors, employees, and contributors of the group through pink form allocations. A significant portion, 60.07 million shares (11.33%), will be placed with bumiputra investors approved by the Investment, Trade and Industry Ministry (Miti). Furthermore, 6.18 million shares (1.17%) will also be offered to bumiputra investors with Miti approval, while another 39.75 million shares, or 7.5%, are earmarked for selected investors.

Angela Mak Shau Kwan, managing director of Yes Group, emphasized that the company remains focused on bolstering its market position within the corporate incentive travel and Mice sectors. She also highlighted the company’s commitment to developing the necessary capabilities to support future growth and expansion initiatives. The IPO marks a significant step for Yes Group as it seeks to capitalize on demand within its core service areas and broaden its operational scope.