Pentech Holdings Bhd has signed an underwriting agreement with Public Investment Bank Bhd (PublicInvest) ahead of the company’s listing on the ACE Market of Bursa Malaysia Securities Bhd.
Pentech’s IPO exercise entails the public issuance of 171.995 million new shares, of which 31 million shares are allocated to Malaysian public, 31 million for eligible individuals, 32.495 million shares for selected investors and 77.5 million shares for Bumiputera investors approved by the Investment, Trade and Industry Ministry.
Managing director and Chief Executive Officer Yeoh Chin Ming said under the signed agreement, PublicInvest, who is the company’s principal advisor, sponsor, sole underwriter and sole placement agent, will underwrite 62 million ordinary shares.
Yeoh highlighted that the underwriting agreement not only positions the company to capitalise on Malaysia’s growing ICT sector, it also allows the company to tap the expanding digitalisation opportunities.
He revealed that proceeds from the IPO will be channelled towards strategic expansion initiatives, including the establishment of a new Security Operations Centre in Kuala Lumpur to strengthen real-time cybersecurity monitoring capabilities and the upgrading of its existing Operations Command Centre infrastructure to enhance service delivery.
“Additionally, the funds will support the development of new artificial intelligence-powered cloud applications, the setup of a dedicated cybersecurity business unit, as well as marketing, working capital and listing-related expenses,” Yeoh said.
