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KUALA LUMPUR, May 13, 2022 - (ACN Newswire) - CNERGENZ Berhad (CNERGENZ) is pleased to announce that the share allocation to the Malaysian public from its IPO has been oversubscribed by 40.32 times.
 | | Chief Executive Officer & Executive Director of CNERGENZ Berhad, Mr. Lye Yhin Choy |
CNERGENZ's IPO comprises a public issue of 100,000,000 new ordinary Shares which were made available for application in the following manner:
- 25,000,000 Issue Shares available for application by the Malaysian Public;
- 10,000,000 Issue Shares reserved for application by the eligible directors and employees as well as persons who have contributed to the success of the CNERGENZ group (Eligible Persons);
- 52,750,000 Issue Shares by way of private placement to identified institutional and/or selected investors; and
- 12,250,000 Issue Shares by way of private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (MITI);
and an offer for sale of 50,000,000 Offer Shares by way of private placement to identified Bumiputera investors approved by the MITI.
A total of 16,186 applications for 1,033,093,200 Issue Shares were received from the Malaysian Public, representing an oversubscription rate of 40.32 times. A total of 9,089 applications for 376,239,100 Issue Shares were received under the Bumiputera category, representing an oversubscription rate of 29.10 times, whilst a total of 7,097 applications for 656,854,100 Issue Shares were received under the other Malaysian Public category, representing an oversubscription rate of 51.55 times.
Meanwhile, the total of 10,000,000 Issue Shares available for application by the Eligible Persons were fully subscribed.
Chief Executive Officer of CNERGENZ Berhad, Mr. Lye Yhin Choy, said, "We would like to thank investors for putting their trust in us. We are extremely pleased with the reception to our IPO as it shows deep investor confidence in our business, our solutions capabilities, and the overall optimism and positive outlook of the electronics and semiconductor industry."
Chief Executive Officer of UOB Kay Hian Securities (M) Sdn. Bhd., Mr. David Lim said, "The response to CNERGENZ's IPO is a reflection of investors' appetite for businesses with fundamentally strong prospects and solid growth plans. The Company is well-positioned to leverage on the continued growth and investment in the electronics and semiconductor industries in Malaysia, Vietnam and Thailand.
UOB Kay Hian, being the Principal Adviser, Sponsor, Underwriter and Placement Agent in conjunction with the IPO, has confirmed that the 52,750,000 Issue Shares by way of private placement to identified institutional and/or selected investors have been fully placed out.
The Company is expected to list on the ACE Market of Bursa Securities on 24 May 2022.
About CNERGENZ Berhad
CNERGENZ Berhad was incorporated in Malaysia on 6 August 2021 as a private limited company under the name CNERGENZ Sdn. Bhd. and assumed its present name upon conversion to public company on 23 September 2021.
The Group is principally an investment holding company. Through its subsidiary, SiP Technology Sdn. Bhd., CNERGENZ is an electronic manufacturing solutions provider, specialising in surface mount technology (SMT) manufacturing solutions for the electronics and semiconductor industries (E&S Industries). The Group's solutions and services are typically provided to customers who are looking to commission new integrated production lines or automate their production facilities, based on their operational requirements, budget and capital expenditure.
CNERGENZ mainly serves electronics and semiconductor companies that carry out the assembly of the advanced semiconductor packaging products as well as assembly and testing of printed circuit board assembly (PCBAs). For more information, visit cnergenz.com.
For more information, please contact:
Hakim Syed Munif
Swan Consultancy Sdn Bhd
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz
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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