TT Vision Holdings Berhad launched the prospectus for its initial public offering in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO exercise will raise RM28.7 million through a public issue of 84.5 million new TTVHB shares at RM0.34 per share of which it aims to use 37.2% of the proceeds for working capital, 27.8% will be for R&D expenditure; 20.9% will go towards the repayment of bank borrowings, 3.0% will be utilised for marketing activities, and 11.1% is to defray the listing-related expenses.
A total of RM3.6 million will be raised through the offer-for-sale exercise involving 10.5 million existing shares by certain offerors.
Based on the enlarged share capital of 468.00 million shares and IPO price of RM0.34 per share, its market capitalisation works out to RM159.12 million.
TTVHB chief executive officer & executive director Goon Koon Yin said, “TTVHB started from humble beginning back in 2001 as a private limited company that was located in Sungai Ara, Penang where our vision inspection modules were designed for local semiconductor companies in Penang. Today, we are a developer and manufacturer of machine vision equipment in relation to the inspection of optoelectronics, solar cells, discrete components and integrated circuits as well as used in vision guided robotic equipment. We have developed a customer base that includes market leaders in their respective industries which we believe will provide us with the platform to grow our business.
To sustain our growth momentum, we will continue to innovate existing and develop new equipment to fulfil our customers’ needs by leveraging on our core expertise in R&D and proven track record. We intend to strengthen our R&D capabilities by expanding our R&D department with relevant talents from the industry and procuring materials/parts as well as equipment and software for development of prototypes to ensure TTVHB will always be ahead and kept abreast with the latest technologies and developments.
With the demand for optoelectronics and solar within the semiconductor industry is expected to continue growing, we have set sights on the huge growth potential of both local and global machine vision equipment markets. We intend to expand our coverage to more foreign markets with the aim of raising market awareness and securing orders from prospective customers by participating in exhibitions and conferences in the next 2 years. We are optimistic that the proactive marketing activities will boost TTVHB’s market presence and increase branding exposure at the international stage.”
KAF Investment Bank Berhad chief executive officer Rohaizad Ismail expressed confidence that TTVHB will continue to excel with the experience and strong leadership of its management team as well as its overall product quality.
“The listing will serve as an effective platform for the company as they embark on their next chapter of growth,” he said.
KAF Investment Bank Berhad is the principal adviser, sponsor, sole underwriter and sole placement agent for this IPO exercise.
