SFP TECH HOLDINGS BERHAD INKS UNDERWRITING AGREEMENT WITH PUBLIC INVESTMENT BANK FOR ITS IPO EXERCISE
KUALA LUMPUR, 20 APRIL 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 is en route for a listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), and has today penned an Underwriting Agreement with Public Investment Bank Berhad (“PIVB”) for its Initial Public Offering (“IPO”) exercise.
The IPO exercise entails a public issue of approximately 207.44 million new ordinary shares, where there will be 40.00 million shares available for application by the Malaysian public, 24.00 million shares available for application by the eligible directors and employees of the Company 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, Malaysia and the remaining 43.44 million shares will be made available by way of private placement to selected investors.
Pursuant to the Underwriting Agreement, PIVB will underwrite a total of 64.00 million shares made available for the Malaysian public, the Group’s eligible employees, and other persons who have contributed to the success of the Group.
PIVB, besides being the Sole Underwriter of SFP Tech’s IPO, is also the Principal Adviser, Sponsor and Placement Agent for this exercise.
Commenting after the signing ceremony, Group Managing Director of SFP Tech, Keoh Beng Huat (姜抿伐) said, “We are delighted that SFP Tech has reached yet another corporate milestone and we are very blessed to be at this point of our corporate growth. We are grateful to have the support of PIVB as our sole underwriter for our IPO, which signals a strong sense of confidence towards SFP Tech. We believe this listing exercise would enable SFP Tech to strengthen its public profile and amplify market awareness of its businesses especially on the provision of integrated engineering and automation solutions.”
Keoh further added, “The proceeds to be raised from the IPO exercise would be mainly utilised for the Group’s business expansion which includes the construction of our third manufacturing plant in Penang Science Park, and the purchase of new machinery and equipment. These plans form part of our strategies to grow our Company in the provision of integrated engineering and automation solutions to our customers.”
Also at the ceremony, Chief Executive Officer of PIVB, Lee Yo-Hunn (李佑汉) said, “We are pleased to be given the opportunity to play a key role as the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent in bringing a reputable company like SFP Tech Holdings Berhad to the ACE Market of Bursa Securities. With the Company’s growth strategies in place, we are confident that this IPO will strengthen SFP Tech’s financial position as it embarks on its next phase of their business expansion plans.”
Barring any unforeseen circumstances, the Company is expected to launch its Prospectus by the end of May 2022.