SFP Tech On Route For IPO Aims To Raise RM62 Million For Business Expansion

SFP Tech Holdings Berhad an integrated engineering and automation solutions provider launched its Prospectus and is on route for an IPO on the ACE Market of Bursa Malaysia Securities.

Speaking at the launch, the Managing Director of SFP Tech, Keoh Beng Huat said, “Our IPO journey is an important step in our business expansion plans as we look to grow the Group further. We believe that this listing exercise will further enhance our corporate profile as we continue to seek for more opportunities to drive our future growth.”

The company will issue approximately 207.44 million new ordinary shares at an issue price of RM0.30 per share which will be used give allow SFP Tech to raise proceeds of approximately RM62.23 million. The Public share comprises 40 million shares that will be made available for application by the Malaysian Public, 24 million shares will be available for application by the eligible directors, and employees of the company while 100 million shares will be made available for application by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia and the remaining 43.44 million shares will be made available by way of private placement to selected investors.

Based on the issue price of RM0.30 per share and the enlarged issued share capital of SFP Tech Holdings Berhad of 800,000,000 ordinary shares, upon listing on the ACE Market of Bursa Securities, the Company will have a market capitalisation of RM240.00 million.

Keoh further added, “We would continue to capitalise on our strengths to generate sustainable revenue from our existing businesses. We believe our strong fundamentals will put us in a solid position, and we are confident that we can deliver commendable performance in the coming years.”

Application for the public issue will open on 26 May 2022 and close on 2 June 2022 while the Group is due to list on the ACE Market of Bursa Securities on 20 June 2022.

Public Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise.

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