KUALA LUMPUR: Infomina Bhd, a regional technology solutions provider that is en route to a listing on Bursa Malaysia's ACE Market on Nov 25, aims to raise RM32.47 million from its initial public offering (IPO).
Managing director Yee Chee Meng said of the total proceeds, the company plans to allocate RM13.96 million (43 per cent) for working capital and RM7.6 million (23.4 per cent) to strengthen research and development capabilities.
A sum of RM5.53 million (17 per cent) will be for regional expansion, RM0.89 million (2.7 per cent) will be used for branding, marketing and promotional activities, while the remaining RM4.5 million (13.9 per cent) will be used to defray listing expenses.
Yee said the group services a well-diversified portfolio of over 60 active clients across multiple industries and geographical locations including Malaysia, Singapore, Thailand, Philippines, Indonesia, Hong Kong, China, and Taiwan. The company has a RM443.6 million order book and RM370.3 million worth of completed projects as of Sept 30, 2022, he added.
"Our financial performance has improved in tandem with our success in acquiring new clients and markets - revenue has grown more than threefold from RM66 million in the financial year 2019 (FY2019) to RM201.1 million in FY2022, which was a compounded annual growth rate (CAGR) of 45 per cent.
"The outlook is very positive for us to grow and expand as we have contracts (that will last) all the way to 2027," he told the media at the launch of the company's IPO prospectus today.
The company's IPO comprises a public issue of 81.17 million new shares, of which 30.06 million shares will be made available for application by the Malaysian public, and 6.01 million shares will be set aside for eligible directors and employees of the group.
Another 45.09 million shares will be set aside for a private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).
At an issue price of 40 sen per share and an enlarged share capital of 601.25 million shares, the company will have a market capitalisation of RM240.5 million upon its listing.
Applications for the public issue are open from today and will close on Nov 11, 2022, at 5 pm.