KUALA LUMPUR: Kucingko Bhd, a company offering 2D animation production services, aims to raise RM30.0 million from the upcoming listing on Bursa Malaysia's ACE Market.
Launching its prospectus today, its executive director See Chin Joo said the IPO symbolises its commitment to growth and innovation within the 2D animation industry.
"By launching our prospectus at the TRX Aurum Theatre, we are proud to be the first company to do so, reflecting our innovative spirit and out-of-the-box thinking," See said in a statement.
A total of RM17.8 million from the proceeds is earmarked for capacity expansion, including RM11.9 million for the setting up of production branch offices in Sabah and Sarawak.
A total of RM4.4 million is for setting up sales office in the US, RM4.3 million for working capital and the balance RM3.6 million to defray the listing expenses.
"The funds from the IPO will enable us to expand our production capabilities locally and improve our operational efficiency, positioning us strongly to meet the increasing demand for high-quality animation content in Malaysia and beyond," said executive director Ooi Kok Hong.
Kucingko said it has seen robust growth for the financial years under review, underpinned by its expertise in 2D animation production, which accounted for a significant portion of the company's revenue over recent years.
Kenanga Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.