The regional technology solutions provider was officially listed on the ACE Market of Bursa Securities.
It will be traded under the stock name ‘Infom’ and the stock code ‘0265’.
The listing was well received by the public. The public issue of 30.1 million shares was oversubscribed. A total of 11,263 applications for 673.2 million new Shares with a value of close to RM270 million, which represented an overall oversubscription rate of 21.39 times.
The floating of its shares has successfully raised 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.
Of 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. Whilst the remaining RM4.5 million or 13.9% will be to defray listing expenses.
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.
As at 30 September 2022, 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.
Its key technology partners include Broadcom Software, CA Technologies, IBM, Hitachi Vantara, Huawei and VMware.
“Infomina has truly grown from strength to strength – all the hard work over the years has led to our successful IPO today. I am confident that our regional clientele in Malaysia, Singapore, Thailand, Philippines, Indonesia and Hong Kong will look upon us more favorably and take comfort that we are listed company,” Managing Director of Infomina, Yee Chee Meng said.
“Our financial performance over the last few years has been impressive – 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%,” he remarked.
“That said, we are optimistic that there is more room for growth as we execute our orderbook of more than RM440 million. Additionally, we are hopeful that our tenderbook of RM375 million will translate into new contracts and positive news flow in the coming months ahead.”
M & A Securities is appointed as the Adviser, Sponsor, Underwriter and Placement Agent, while Newfields is the Financial Adviser for Infomina’s IPO exercise.
