SFP TECH HOLDINGS BERHAD EN ROUTE TO THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD
IPO exercise aims to raise approximately RM62.23 million in proceeds
KUALA LUMPUR, 26 May 2022 – SFP Tech Holdings Berhad (“SFP Tech” or the “Company”) (SFP 科技控股集团), a one-stop integrated engineering and automation solutions provider has today launched its Prospectus pursuant to its Initial Public Offering (“IPO”) exercise in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The Prospectus was launched by the Managing Director of SFP Tech, Keoh Beng Huat (姜 抿伐) together with the Group’s Board of Directors. Also present was Mr. Lee Yo-Hunn (李 佑汉), Chief Executive Officer of Public Investment Bank Berhad (“PIVB”).
Speaking at the launch, the Managing Director of SFP Tech, Keoh Beng Huat said, “Our IPO journey is an important step in our business expansion plans as we look to grow the Group further. We believe that this listing exercise will further enhance our corporate profile as we continue to seek for more opportunities to drive our future growth.”
In conjunction with its listing on the ACE Market of Bursa Securities, the IPO entails a public issue of approximately 207.44 million new ordinary shares at an issue price of RM0.30 per share which will allow SFP Tech to raise proceeds of approximately RM62.23 million. The Public share comprises 40.00 million shares that will be made available for application by the Malaysian Public, 24.00 million shares will be available for application by the eligible directors, employees and persons who have contributed to the success of SFP Tech and its subsidiaries (“Group”) and other persons who have contributed to the success of the Group, while 100.00 million shares will be made available for application by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI), Malaysia and the remaining 43.44 million shares will be made available by way of private placement to selected investors.
Based on the issue price of RM0.30 per share and the enlarged issued share capital of SFP Tech Holdings Berhad of 800,000,000 ordinary shares, upon listing on the ACE Market of Bursa Securities, the Company will have a market capitalisation of RM240.00 million.
Keoh further added, “We would continue to capitalise on our strengths to generate sustainable revenue from our existing businesses. We believe our strong fundamentals will put us in a solid position, and we are confident that we can deliver commendable performance in the coming years.”
Also speaking at the launch, Lee Yo-Hunn, Chief Executive Officer of Public Investment Bank Berhad enthused, “We are proud to bring such an established and esteemed company to the capital markets in Malaysia.” He further added, “We believe that the Group will continue to scale greater heights and create more value for all its stakeholders.”
Application for the public issue will open on 26 May 2022 and close on 2 June 2022 while the Group is due to list on the ACE Market of Bursa Securities on 20 June 2022.
Public Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise.