iCents Signs Underwritting Agreement With Alliance Islamic Bank For IPO
KUALA LUMPUR, June 6 (Bernama) -- Cleanroom and other facility services provider, iCents Group Holdings Bhd has inked an underwriting agreement with Alliance Islamic Bank Bhd (AIS) in conjunction with its upcoming initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia by July 2025.
It said in a statement that the IPO exercise encompasses a public issuance of 112.5 million new ordinary shares, representing 22.5 per cent of its enlarged issued share capital, as well as an offer for sale of 30 million existing shares, representing six per cent of its enlarged issued share capital.
"Out of the 112.5 million issue shares, 25 million shares will be made available to the Malaysian public via balloting, with 10 million shares to its eligible directors, employees and persons who have contributed to the success of the group, 15 million shares will be made available by way of private placement to selected investors, while 62.5 million shares will be made available by way of private placement to bumiputera investors approved by the Ministry of Investment, Trade and Industry," it said.
Additionally, 30 million offer shares will be for selected investors by way of private placement.
Group managing director Ong Mum Fei said the signing of the underwriting agreement with AIS would provide the company with the financial resources and flexibility needed to accelerate its strategic growth plans.
“As we expand our capabilities, we are committed to enhancing our competitive position within Malaysia's cleanroom industry, as well as executing our geographical market expansion plans in Indonesia, Singapore and Sarawak, through the IPO proceeds,” he said.
Meanwhile, executive director Foo Siang Leng said the outlook of the cleanroom industry is positive, supported by steady growth in the semiconductor and electronics, data centre, pharmaceutical, and food and beverage sectors, alongside the initiatives under Malaysia’s New Industrial Master Plan 2030.
"We aim to capitalise on these opportunities through our growing involvement in these key industries by expanding our operational capabilities, expanding market reach and broadening our product range and addressable markets," he said.
-- BERNAMA