3REN Bhd Expands Operations, R&D And Market Presence With Upcoming IPO - MTDC

KUALA LUMPUR, Oct 9 (Bernama) -- 3REN Bhd’s initial public offering (IPO) will enable the group to expand its operations, enhance its research and development capabilities, and strengthen its presence in key markets, said Malaysian Technology Development Corporation (MTDC).

3REN Bhd is a provider of automation solutions and engineering services, primarily focusing on the semiconductor, electronics, and manufacturing sectors.

In a statement, MTDC group chief executive officer Mohammad Hazani Hassan said the launch of 3REN Bhd’s prospectus marks a significant milestone in the company's journey, adding that MTDC is proud to have played a role in helping 3REN reach this stage.

MTDC, a wholly-owned subsidiary of Khazanah Nasional Bhd has been instrumental as a strategic partner in 3REN’s impressive growth journey.

“Through its subsidiary, Sophic Automation Sdn Bhd, MTDC facilitated a substantial RM8.8 million investment via the Business Growth Fund, enabling 3REN to scale its innovations regionally and globally.

“To further reinforce its commitment to 3REN's long-term success, MTDC recently converted 8,800 redeemable convertible preference shares (RCPS) into 71,700 ordinary shares, underscoring its key role in driving the company's continued expansion and future potential,” it said.

In addition to its financial investment, MTDC noted that it has provided strategic advisory services, facilitated key negotiations, and offered continuous guidance throughout 3REN’s growth journey, ensuring the company stays focused on its long-term goals.

“We are committed to supporting high-potential technology companies, driving the nation’s industrial modernisation, and solidifying Malaysia’s position as a regional hub for high-technology manufacturing,” the corporation added.

-- BERNAMA