OGX Group Bhd has proposed the acquisition of a freehold industrial property in Shah Alam for RM19 million to serve as its new corporate headquarters.
The information technology company, listed on Bursa Malaysia's ACE Market, disclosed the plan in a filing with the exchange, indicating that the purchase will be funded using proceeds from its recent initial public offering.
The move marks a strategic deployment of capital for the newly listed entity.
Rather than retaining the cash for working capital or immediate operational expansion, OGX is locking funds into a tangible, long-term asset.
This approach suggests management's confidence in the company's future cash flows and its intent to establish a permanent physical footprint in the Klang Valley industrial hub.
For investors, the transaction highlights how smaller-cap listings on the ACE Market are utilizing raised capital.