IC design service provider, Oppstar Berhad has obtained approval from Bursa Malaysia Securities Berhad to list on the ACE Market of Bursa Securities.
The Group is principally involved in the provision of integrated circuit design services covering front-end design, back-end design, and complete turnkey solutions. It is also involved in related services such as post-silicon validation services, training as well as consultancy services.
In conjunction with the Group’s listing, Oppstar’s initial public offering exercise will comprise a public issue of 165,479,000 new shares, representing approximately 26.0% of its enlarged issued share capital. Of these 165,479,000 shares, 31,810,000 shares will be made available for application by the Malaysian public and 22,267,000 shares will be made available for application by the eligible directors, employees, and business associates who have contributed to the success of the Group. Another 31,877,000 shares will be made available through private placement to selected investors. The remaining 79,525,000 shares will be made available through private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry of Malaysia.
The group aims to use the IPO proceeds to speed up its expansion plans and increase its presence in the IC design industry.
Affin Hwang Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Placement Agent, and Sole Underwriter for this IPO exercise.
