SINGAPORE (April 17): IAQ Group is considering an initial public offering (IPO) in Kuala Lumpur to raise about RM1 billion (US$253 million or $322 million), according to people with knowledge of the matter.
The Malaysian company, which provides design and maintenance services for facilities such as power plants and data centres, is working with financial advisers on the potential offering, the people said, asking not to be identified because the process is private.
An IPO might take place as soon as the first quarter of 2027, but deliberations are ongoing and details could change, the people said.
IAQ didn’t respond to requests for comments.
About US$940 million has been raised in Malaysian first-time share sales this year, compared with US$315 million in the same period of 2025, data compiled by Bloomberg showed.
Founded in 1994, IAQ has a presence in eight countries, according to its website.
See also: GIC-backed Envision AESC mulling up to US$2 bil Hong Kong IPO — Bloomberg
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