On November 24th, Semico Capital Berhad, a Malaysian distributor of trendy toys and game equipment with over 20 years of experience, announced an underwriting agreement with Affin Hwang Investment Bank Bhd, a prominent investment bank in Southeast Asia, to advance its initial public offering (IPO) plan. The IPO is expected to list on the ACE Market of Bursa Malaysia in January 2026.

According to publicly available information, Semico will issue 92.67 million new shares and offer 18 million ordinary shares for sale. Of the new shares to be issued, 18 million will be available for subscription by the Malaysian public, and 15 million will be available for subscription by qualified directors, employees, and individuals who have contributed to the company. And the remaining 59.7 million issue shares will be made available by way of private placement to selected investors. Meanwhile, the 18 million offer shares will be made available by way of private placement to selected investors. Under the agreement, Affin Hwang Investment Bank will underwrite a private placement to specific classes of investors, totaling 18 million existing shares and 33 million new shares.

(From left) Semico Capital independent non-executive chairman Datuk Seri Ramli Mohamed Yoosuf, Semico Capital executive director and chief executive officer Tai Lee Chuen, Affin Hwang chief executive officer Hanif Ghulam Mohammed and Affin Hwang chairman Hasli Hashim.

Semico Capital has signed an underwriting agreement to advance its listing plans for January 2026. Semico Capital's executive director cum chief executive officer Tai Lee Chuen said the underwriting agreement sets the stage for its next phase of growth as the company works to strengthen its market position and expand its reach to meet the customers' needs. Semico Capital is scheduled to be listed on the ACE Market by January 2026 and Affin Hwang serves as the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.

Semico Capital, headquartered in Kuala Lumpur, Malaysia, began its business in trading video games and arcade machines approximately 20 years ago. It also operates a family entertainment center in The Mines shopping mall in Selangor and currently represents 53 toy brands, including Pop Mart, famous for its Labubu dolls.

According to its previously drafted prospectus, Semico Capital intends to use the IPO to expand its toy and collectibles business and plans to diversify its inventory of popular and trendy toys and collectibles. Furthermore, the company intends to invest heavily in acquiring a large number of game and amusement equipment to expand its revenue-sharing and rental business, and plans to use some of the funds to upgrade existing machine equipment.

Semico's listing will drive a new landscape in the Malaysian toy and game and amusement market.