Electronic manufacturing solutions provider CNERGEN 0246 CNERGENZ BERHAD seeks ACE Market listing
KUALA LUMPUR (Oct 11): Penang-based electronics manufacturing solutions provider Cnergenz Bhd is seeking a listing on the ACE Market of Bursa Malaysia to raise funds mainly for funding the expansion of its facilities.
According to its draft initial public offering (IPO) prospectus posted on the Securities Commission Malaysia’s website, 100 million new shares will be offered to the investing public.
Of this, 25 million shares will be made available for application by the Malaysian public, and another 10 million shares will be reserved for application by eligible directors and employees, as well as persons who have contributed to the success of the group.
The remaining shares will be offered via private placement, comprising 52.75 million shares for selected investors and 12.25 million shares for Ministry of International Trade and Industry (MITI)-approved Bumiputera investors.
Additionally, the IPO also involves an offer for sale of 50 million existing shares by way of private placement to Bumiputera investors approved by MITI.
The issue price has yet to be fixed, according to the draft prospectus.
Cnergenz said it intends to use 60% of the proceeds from the IPO on the establishment of a new facility, which will serve as its new headquarters, training and application centre, demonstration centre, research and development centre, assembly floor and warehouse.
“Our current headquarters are located in a row of industrial lots in Bukit Tengah, Penang, with an aggregate built-up area of approximately 22,800 sq ft, and comprise our principal office and warehouse, as well as our training centre, workshop and demonstration room, all of which share the same floor space.
“Given the space constraints of our existing facility and in order to enhance our marketing activities, as well as better demonstrate our integrated solutions capabilities, we have planned the expansion of our facility from 22,800 sq ft to 130,000 sq ft,” it said.
Other than funding its facility expansion, 20% of the proceeds from the IPO will be for working capital, 12% for R&D expenditure and the remaining 8% will be used for defraying estimated listing expenses.
For its financial year ended Dec 31, 2020 (FY20), Cnergenz registered a net profit of RM16.07 million, 47.39% lower than RM30.55 million in FY19, as revenue fell to RM132.82 million from RM255.98 million.
In FY18, the group posted a net profit of RM23.29 million on revenue of RM187.75 million.
Cnergenz, which specialises in surface mount technology manufacturing solutions for the electronic and semiconductor industries, said its board has not adopted a formal dividend payout policy.
“Any dividend declared will be subject to the recommendations of our board, taking into consideration our group’s capital structure and ensuring sufficient funds for future growth,” it said.
UOB Kay Hian Securities (M) Sdn Bhd is the principal adviser for the IPO exercise.
https://www.theedgemarkets.com/article/electronic-manufacturing-solutions-provider-cnergenz-seeks-ace-market-listing
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Today’s Deal of the day – Dobin App10 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
Thai Beverage – In Line As Margins Improve21 hours ago
-
Beware Of Scams1 day ago
-
-
-
-
-
Buying a home for face2 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Finance Investment Movement 444 days ago
-
-
-
-
Going REITs Shopping Again5 days ago
-
-
Weekly Markets Outlook5 days ago
-
Market indeed coming down5 days ago
-
Cory Diary : Dividend Q1 '246 days ago
-
-
-
-
-
-
-
-
-
Banks and Miles Report – Mar 20241 week ago
-
-
Revisiting Bitcoin1 week ago
-
-
-
-
-
-
2024 (Portfolio Update)2 weeks ago
-
-
-
-
Retirement Journey Update for March 20242 weeks ago
-
-
-
1Q 2024 Investment Strategy Update2 weeks ago
-
-
Portfolio Summary for March 20242 weeks ago
-
Reasonable Dividend Yield 2024Q22 weeks ago
-
-
-
Portfolio (March 30, 2024)3 weeks ago
-
-
-
QAF #77 - 2023 Annual Report3 weeks ago
-
Lentor Hills Residences3 weeks ago
-
Burnt out!3 weeks ago
-
-
-
Feb 2024 Expenditure3 weeks ago
-
-
Starting Our Second Property Cycle4 weeks ago
-
-
Position Update4 weeks ago
-
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website4 months ago
-
-
Abandon REITS?4 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-
Home
CNERGEN
IPO
Electronic manufacturing solutions provider CNERGEN 0246 CNERGENZ BERHAD seeks ACE Market listing