RedPlanet surges 42pct on ACE Market debut after LEAP transfer

KUALA LUMPUR: RedPlanet Bhd rose 42.1 per cent on its ACE Market debut today, following its transfer from the LEAP Market, opening at 27 sen against its initial public offering (IPO) price of 19 sen.

At 9.20am, the stock rose to 27.5 sen, up 8.5 sen or 44.74 per cent from its IPO price, with 38.1 million shares traded, giving the company a market capitalisation of RM110.87 million.

The counter had earlier touched a high of 28.5 sen and a low of 25.5 sen.

The enterprise information and communications technology solutions provider was previously listed on the LEAP Market in August 2020 before making the move to the ACE Market.

Its public share allocation under the IPO was oversubscribed by 85.28 times.

For the financial year ended June 30, 2026 (FY26), RedPlanet's adjusted net profit rose 35.1 per cent to RM7.31 million, while revenue increased 22.3 per cent to RM40.72 million from RM33.3 million a year earlier.

Geospatial solutions remained its largest revenue contributor, generating RM18.4 million, or 45.1 per cent of total revenue.

Malaysia accounted for 87 per cent of the group's revenue, with the remainder coming from overseas markets.