Impact Capital targets RM27.6 million from ACE Market IPO
The offer is priced at 22 sen per share, with applications closing on Nov 6 and listing scheduled for Nov 24.
Impact Capital Holdings Bhd has launched an initial public offering (IPO) that will bring in RM27.6 million for the Sarawak technology company and its selling shareholders. Its prospectus sets the offer price at 22 sen per share ahead of an ACE Market listing.
New shares will provide the company with RM21.3 million, while sales of existing holdings will yield RM6.3 million for shareholders. Co-founders Winston Chai Fung Chun, the managing director, and Kok Teck Kuan, the executive director, are each offering part of their stakes.
Of the funds raised, RM4.7 million is earmarked for offices in Klang Valley and Johor Bahru, intended to reach customers beyond East Malaysia, and for moving its Bintulu and Kota Kinabalu offices to new premises in their respective cities.
Impact Capital has also allocated RM4.5 million to increase staffing and develop its business. Another RM2.1 million will go towards a Klang Valley centre for digital innovation and solutions. The balance will meet working capital needs and listing expenses.
The Kuching-based company integrates technology systems and equipment for telecommunications infrastructure, enterprise networks, security systems and data centres. Its customers include utilities and government agencies, alongside financial, merchant service, internet technology and other corporate businesses.
The company reported outstanding jobs worth RM169.9 million at September's end, with revenue from those jobs extending to the fiscal year ending June 2030. Public Investment Bank Bhd is advising and sponsoring the IPO, and also serves as sole placement agent and sole underwriter.
