Gobi Partners-Backed CompAsia Targets $101M-$126M Bursa Malaysia IPO in Early 2027 Amid Recommerce Surge

CompAsia Sdn Bhd, Malaysia's leading refurbished technology firm, plans a blockbuster Main Market IPO on Bursa Malaysia in the first half of 2027.

The IPO seeks to raise between $101 million and $126 million (MYR 400-500 million) to fuel working capital, expand the ReNewNGo device subscription program, and enhance omnichannel retail.

Rapid Rise in Recommerce Leadership

Founded in 2012 by CEO Julius Lim, CompAsia has evolved into Southeast Asia's largest integrated recommerce platform, surpassing three million device transactions by Q3 2025.

Securing lead investment from Gobi Partners in its 2023 Series A round propelled expansion into Singapore, Thailand, and the Philippines.

Impressive Financial Momentum

CompAsia posted a pre-tax profit of MYR 20 million in 2025, doubling from MYR 12 million in 2024, with Malaysian revenue hitting MYR 180 million.

Targeting MYR 400 million in revenue and MYR 70 million profit for 2026, growth hinges on the innovative ReNewNGo model launched in 2024.

ESG Impact and Sustainability Wins

Refurbishing efforts have diverted 450-600 tonnes of e-waste from landfills and curbed CO2 emissions akin to removing 52,000 cars for a year.

Extended device lifespans at CompAsia have slashed mining demands, saving an estimated 100kg of gold and 1,000kg of silver.

Store count exploded from five-six to 70 across Malaysia, including Sabah and Sarawak, with plans to reach 150 by end-2026.

ReNewNGo now serves 20,000 subscribers, eyeing 50,000 by year-end and doubling to 100,000 in 2027.

A pre-IPO round targets high-net-worth investors at a discount, while the global refurbished smartphone market races toward $96.9 billion by 2031.