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| Company inks underwriting agreement for ACE Market IPO |
KUALA LUMPUR, Apr 4, 2022 - (ACN Newswire) - Cnergenz Berhad (CNERGENZ), an electronics manufacturing solutions provider based in Penang, specialising in surface mount technology (SMT) catering to the electronics and semiconductor industries (E&S Industries), is pleased to announce that the Company has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (UOB Kay Hian) today for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).
 | | UOB Kay Hian Securities Sdn. Bhd Chief Executive Officer Mr. David Lim; Cnergenz Berhad Chief Executive Officer Mr. Lye Yhin Choy [L-R] |
The Company had obtained approval to list on the ACE Market of Bursa Securities and is targeting to launch its Prospectus in April 2022.
The IPO exercise 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.
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 ("Group") ("Eligible Persons"), 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 ("MITI").
UOB Kay Hian will underwrite an aggregate of 35.0 million issue shares, comprising 25.0 million shares under the public issue and 10.0 million shares allocated to Eligible Persons as part of the underwriting agreement.
Chief Executive Officer of Cnergenz, Mr. Lye Yhin Choy, said, "This listing will enable us to strengthen our name as a leading electronics manufacturing solutions provider in Malaysia whilst deepening our presence in Thailand and Vietnam, countries which are benefitting from strong investment flows into the E&S Industries."
Chief Executive Officer of UOB Kay Hian, Mr. David Lim said, "UOB Kay Hian is pleased to be working with Cnergenz on its IPO exercise. The Company has a stellar track record and experience in the E&S Industries that dates back to 2004. We are happy to work with Cnergenz in achieving its listing goals."
Cnergenz collaborates closely with its network of over 50 suppliers to offer quality solutions for their customers, building a strong network and contributing to Cnergenz' business development and growth.
Cnergenz caters to domestic and international customers across Malaysia, Vietnam and Thailand. Cnergenz has a customer base of over 100 local and multinational companies operating within the E&S Industries, comprising integrated design manufacturers (IDMs), outsourced semiconductor assembly and test service providers (OSATs) and electronics manufacturing service providers (EMSs), some of which have been customers of Cnergenz for over 15 years.
Cnergenz Bhd: https://cnergenz.com
Cnergenz Bhd: [BURSA: CNERGENZ]
Topic: Press release summary
Source: Cnergenz Berhad
Sectors: Electronics, Daily Finance, Local Biz, Manufacturing
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From the Asia Corporate News Network
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