Infomina aims to strengthen R&D capabilities
13 Oct 2022
Technology solutions provider Infomina Bhd plans to strengthen its research and development (R&D) capabilities and regional presence with the funds raised from its upcoming ACE Market listing.
Managing director Yee Chee Meng said the initial public offering (IPO) will allow the group to tap into the capital markets for its next stage of growth.
“With the additional resources at our disposal, we will strengthen our R&D capabilities and regional presence, which will propel Infomina to the next level,” said Yee in a statement yesterday.
Infomina provides customised operations, maintenance and support services for technology solutions.
The group specialises in mainframe technology solutions and also possess capabilities in developing solutions based on other technologies.
Mainframes are used by large organisations for critical large-scale and real-time applications such as bulk data and transaction processing.
The group has a diverse customer base in both the private and public sectors in Malaysia, Singapore, Thailand, the Philippines, Indonesia, Hong Kong and Taiwan.
Infomina’s IPO exercise will comprise the public issue of 81.168 million new ordinary shares, of which 30.06 million shares will be offered to the Malaysian public and 6.01 million shares to eligible directors and employees of the group.
Meanwhile, 45.09 million new shares will be offered to bumiputra investors approved by the International Trade and Industry Ministry (Miti) via private placement.
The listing will also comprise an offer for sale of 81.168 million existing shares, of which 30.06 million shares will be offered via private placement to bumiputra investors approved by Miti while the remaining 51.1 million shares will be sold via private placement to selected investors.
M&A Securities will underwrite 36.075 million issue shares for the Malaysian public and pink form allocations.
M&A Securities is the adviser, sponsor, underwriter and placement agent while Newfields Advisors Sdn Bhd is the financial adviser for the IPO exercise.
Source: The Star
