RT Pastry Holdings Bhd began its initial public offering (IPO) subscription on June 5, 2026, pricing shares at 18 sen each to raise approximately RM16.5 million for business operations and expansion. The IPO involves only the issuance of new shares, with no offer for sale from existing shareholders. Subscription closes on June 15, 2026, and the company expects to list on the ACE Market on June 29, 2026 [1, 2, 3].

RT Pastry currently operates 17 outlets in the Klang Valley, though one source reports 18 outlets as of late 2025. The CEO and founder is Lu Chun-Neng, a 47-year-old Taiwanese who started the business in 2003 with his wife’s family. Lu will retain about 26% ownership after the IPO, while his father-in-law and three uncles remain shareholders but do not hold executive roles [1, 2, 3].

The RM16.5 million raised will be allocated with 46% directed toward opening four new outlets in Klang Valley and two outlets in Pahang over the next two years. About 5% will go toward new equipment such as depositors and cake-cutting machines, and the remaining roughly 48% will cover bank loan repayments and listing expenses. RT Pastry plans to expand into the Pahang market in 2027, based on demand [1, 2, 3].

Financially, RT Pastry posted a net profit of RM6 million on revenue of RM60 million for the financial year ended December 31, 2025. The IPO price implies a market capitalization of about RM61 million and a price-to-earnings ratio near 10 times [1, 2].

The IPO will issue about 91.54 million new shares, increasing the total shares to roughly 339.04 million. Allocation includes 16.96 million shares for the Malaysian public, 6.78 million for eligible directors and employees, 42.38 million for MITI-approved indigenous investors, and 25.42 million for private placement [3].

KAF Investment Bank acts as the principal adviser, sponsor, underwriter, and placement agent for the IPO [1, 2, 3].

The IPO timeline includes a stock lottery on June 18 and share allocation on June 25. Successful applicants will then have their shares listed on the ACE Market on June 29, 2026 [3].