In conjunction with Infomina’s listing on the ACE Market of Bursa Malaysia, the regional technology solutions provider launched its Initial Public Offering (IPO) prospectus at Sheraton Petaling Jaya Hotel today.
Infomina will raise approximately RM32.47 million via a public issue of 81,168,800 new ordinary shares at an issue price of RM0.40 per IPO share. RM13.96 million or 43.0% of the proceeds will be used for working capital and RM7.60 million or 23.4% to strengthen R&D capabilities. Most notably, RM5.53 million or 17.0% will be put towards regional expansion whilst RM0.89 million or 2.7% will be used for branding, marketing and promotional activities. The remaining RM4.5 million or 13.9% will be to defray listing expenses.
Infomina is scheduled to be listed on the November 25, 2022.
The IPO exercise will comprise of public issues and offer shares:
- * Public issue of 81,168,800 new ordinary shares consists of 30,062,600 new shares available for application by the Malaysian public; 6,012,500 new shares available for application by eligible directors and employees of the Group; and 45,093,700 new shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).
* Offer for sale of 81,168,800 existing shares (or Offer Shares) consists of 30,062,500 existing shares by way of private placement to Bumiputera investors approved by MITI; and 51,106,300 existing shares by way of private placement to selected investors.
M & A Securities is the Adviser, Sponsor, Underwriter and Placement Agent, while Newfields is the Financial Adviser for Infomina’s IPO exercise.
Infomina specialises in the design and implementation of technology application and infrastructure solutions that support the fundamental business operations of large private and public enterprises. The Group further supports its clients through customised operations, maintenance and support services.
The Group services a well-diversified portfolio of over 60 active clients across multiple industries and geographical locations including Malaysia, Singapore, Thailand, Philippines, Indonesia, Hong Kong, China and Taiwan, as at September 2022.
Infomina’s key technology partners include Broadcom Software, CA Technologies, IBM, Hitachi Vantara, Huawei and VMware.
“Infomina has truly grown from strength to strength. We have transformed from a homegrown and local IT player to a regional technology solutions provider boasting a direct presence in Malaysia, Singapore, Thailand, Philippines, Indonesia and Hong Kong. In addition to our vast regional footprint, our growing list of big-name clientele is a testament to our capabilities in providing technology solutions to large enterprises,” Managing Director of Infomina, Yee Chee Meng remarked.
“Our financial performance has improved in tandem with our success in acquiring new clients and markets – revenue has grown more than three (3) fold from RM66.0 million in FYE2019 to RM201.1 million in FYE2022, a CAGR of 45%. Our profitability has also improved significantly during the same period, from RM6.9 million to RM17.1 million, a CAGR of 35%,” Yee added.
“The successful launch of our IPO prospectus today will provide Infomina with more resources to strengthen our R&D capabilities and accelerate our regional expansion. Our impending listing on Bursa Malaysia will also elevate our image and brand presence.”
“I want to put on record my gratitude to M & A Securities, our Adviser, Sponsor, Underwriter and Placement Agent; as well as Newfields, our Financial Adviser for all their hard work and making this exercise a success.”
“We are elated to be part of this IPO as Adviser, Sponsor, Underwriter and Placement Agent. This much anticipated listing for Infomina comes at an exciting time as enterprise IT spending is on the rise accelerated by Covid-19 and an increasingly connected and digitalized marketplace,” Managing Director of Corporate Finance of M&A Securities, Datuk Bill Tan.
“We are looking forward to the listing day that is slated to take place on the 25th November 2022,” he added.
