KUALA LUMPUR (Oct 12): Infomina Bhd said it inked an underwriting agreement with M&A Securities Sdn Bhd on Wednesday (Oct 12), in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, Infomina said the IPO comprises a public issue of 81.17 million new shares and an offer for sale of another 81.17 million existing shares.

Of the 81.17 million under the public issue, 30.06 million shares will be made available to the Malaysian public, 6.01 million shares to the group’s eligible directors and employees, and the remaining 45.09 million shares to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).

“Under the agreement, M&A Securities will underwrite 36.08 million shares made available to the Malaysian public and the pink form allocations,” the company said.

Meanwhile, 30.06 million of the shares offered for sale will be made available via private placement to Bumiputera investors approved by MITI, while the remaining 51.11 million shares will be offered to selected investors.

Infomina managing director Yee Chee Meng said the IPO would allow the group to tap into the capital markets and allocate the additional resources at its disposal to strengthen its research and development capabilities and regional presence.

Infomina is principally involved in the design and implementation of technology application and infrastructure solutions that support the fundamental business operations of its customers. 

According to Infomina’s prospectus exposure, the group posted a profit after tax of RM8.29 million for the financial year ended May 31, 2021 (FY2021), compared with RM3.37 million in FY2020, and RM6.9 million in FY2019.

Revenue came in higher at RM105.22 million in FY2021, against RM81.62 million in FY2020 and RM66 million in FY2019.

Besides being the underwriter of the listing exercise, M&A Securities is also the adviser, sponsor and placement agent of Infomina’s IPO. Newfields is the IPO’s financial adviser.