Pentech Holdings Bhd aims to raise RM34.4 million through its IPO exercise as it prepares for a listing on the ACE Market of Bursa Malaysia.
Managing Director and Chief Executive Officer Yeoh Chin Ming said IPO exercise, priced at 20 sen per share, 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.
He shared that the funds raised will be channelled primarily towards strengthening its cybersecurity and ICT capabilities, including RM9.4 million to establish a new Security Operations Centre (SOC) and RM8.1 million to upgrade its Operations Command Centre (OCC) infrastructure.
“A further RM6.74 million will be allocated for business expansion to enhance its ICT service offerings, while RM3.5 million is earmarked for marketing and promotional activities to broaden market reach.
“The company will also allocate RM2.16 million for working capital needs and RM4.5 million to defray listing expenses,” he said.
Public Investment Bank Bhd is Pentech’s principal advisor, sponsor, sole underwriter and sole placement agent for its IPO exercise.
Pentech is scheduled to be listed on June 15 and have an indicative market capitalisation of RM124 million upon listing.
