KUALA LUMPUR, MY / ACCESS Newswire / September 28, 2026 / RedPlanet Berhad ("RedPlanet" or the "Company"), an enterprise ICT solutions provider specialising in geospatial solutions and intelligent rail solutions, is pleased to announce the launch of its prospectus in conjunction with its Initial Public Offering ("IPO") and transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").

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 IPO aims to raise approximately RM13.30 million through the issuance of 70,000,000 new ordinary shares at an issue price of RM0.19 per share, representing a market capitalisation of approximately RM78.02 million based on an enlarged issued share capital of 410,650,542 shares upon listing. The IPO also involves an offer for sale of 10,000,000 existing shares by way of private placement to selected investors.

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.

Applications for the IPO will open at 10.00 a.m. on the date of the prospectus launch and will close at 5.00 p.m. on 8 October 2026. The withdrawal of RedPlanet's listing from the LEAP Market is scheduled for 22 October 2026, while the Company's listing on the ACE Market is scheduled for 22 October 2026.

Mr. Lian Wah Seng, Non-IndependentExecutive Director/ Managing Director of RedPlanet Berhad remarked, "The launch of our Prospectus marks a significant milestone for RedPlanet as we move closer towards our transfer listing to the ACE Market. Since our listing on the LEAP Market, we have continued to strengthen our technical capabilities, project delivery track record and market presence across our geospatial and intelligent rail solutions businesses. The IPO will provide us with a stronger platform to support our business expansion, enhance our project execution capacity and broaden our investor base."

Mr. David Lim, Chief Executive Officer of UOB Kay Hian (M) Sdn Bhd added, "RedPlanet has developed a specialised position within the enterprise ICT solutions sector, supported by its capabilities in geospatial solutions, intelligent rail solutions and proprietary rail safety technology. The proposed transfer listing to the ACE Market represents an important step in the Company's continued growth journey, and we are pleased to support RedPlanet as it advances towards becoming an ACE Market-listed company."

RedPlanet has built an established track record supported by its technical capabilities, sector-specific knowledge and experience in delivering customised solutions according to customers' requirements. These capabilities, together with its longstanding customer relationships and project delivery experience, provide the Company with a strong foundation to pursue its next phase of growth following the transfer listing.

UOB Kay Hian (M) Sdn Bhd ("UOBKH") is the Principal Adviser, Sponsor, Underwriter and Placement Agent for RedPlanet.

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ABOUT REDPLANET BERHAD

RedPlanet Berhad ("RedPlanet" or the "Company") is an enterprise ICT solutions provider principally involved in the provision of geospatial solutions, intelligent rail solutions and 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 applications including operational planning, navigation, tracking, mapping and asset management. Its intelligent rail solutions are anchored by the proprietary Platform Intrusion Emergency Stop (PIES®) System, a platform intrusion safety system designed to detect human intrusion on railway platforms, as well as related ancillary hardware including BLUCOR®, its proprietary strain-sensitive sensor. RedPlanet has been listed on the LEAP Market of Bursa Securities since 4 August 2020 and is currently undertaking the transfer of its listing to the ACE Market of Bursa Securities.

Issued By: Swan Consultancy Sdn Bhd on behalf of RedPlanet Berhad

For more information, please contact:

Jazzmin Wan
Email: j.wan@swanconsultancy.biz

Renee Toh
Email: r.toh@swanconsultancy.biz

SOURCE: RedPlanet Berhad