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Applications for the IPO have opened starting at 10.00 a.m. today following the Prospectus launch and will close on 11 May 2022. The targeted IPO listing date of the Company on the ACE Market is on 24 May 2022. At the IPO price of RM0.58 per share, CNERGENZ will have a market capitalisation of RM288.84 million ahead of its debut.
The IPO involves the public issue of 100.0 million issue shares and an offer for sale of 50.0 million offer shares by way of private placement at the IPO price of RM0.58 per share. From the public issue, 25.0 million issue shares will be made available for application to the Malaysian public, 10.0 million shares will be allocated for application by eligible directors and employees as well as persons who have contributed to the success of CNERGENZ Group, 52.75 million shares will be reserved for private placement to identified investors and 12.25 million shares will be reserved for private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (MITI).
The IPO is expected to raise gross proceeds of RM58.0 million and shall primarily be channelled towards the Group's expansion of its operational facility, as well as research and development expenditure and working capital purposes.
CNERGENZ is an established electronics manufacturing solutions provider specialising in surface mount technology (SMT) catering to the electronics and semiconductor industries (E&S Industries) in Malaysia, Thailand and Vietnam. The Group has an established track record in providing integrated solutions that suit the evolving nature and changing technological landscape of the E&S Industries since the commencement of its business in 2004.
Chief Executive Officer of CNERGENZ Berhad, Mr. Lye Yhin Choy, said, "We are elated to have reached a new milestone with the Prospectus launch today, bringing us a step closer towards becoming a listed entity on the ACE Market of Bursa Securities. Having been in the E&S space since 2004, our listing is in line with our growth plans and strategies to scale up our operations, expand our integrated solutions and smart factory solutions offerings and develop our own proprietary range of solutions."
Chief Executive Officer of UOB Kay Hian Securities (M) Sdn. Bhd. (UOB Kay Hian), Mr. David Lim said, "We are pleased that the interest among institutional and selected investors, as well as MITI Bumiputera institutional and individual investors have been encouraging with many indicating strong interest to subscribe for the IPO."
UOB Kay Hian is the principal adviser, sponsor, underwriter, and placement agent for CNERGENZ's IPO.
CNERGENZ Bhd: https://cnergenz.com
CNERGENZ Bhd: [BURSA: CNERGENZ]
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source https://www.acnnewswire.com/press-release/english/74988/