Securemetric gets Bursa's nod for ACE debut

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KUALA LUMPUR (Sep 18): Securemetric Bhd, a regional digital security solutions provider, has obtained the greenlight from Bursa Malaysia Securities Bhd to proceed with its ACE Market debut, which it expects to "supercharge" its regional expansion plans.

In a statement today, Securemetric's chief executive officer Edward Law said the group has ambitions to further increase its presence in Southeast Asia and are optimistic on its prospects.

The group and its subsidiaries offer digital security products and solutions across Southeast Asia, namely Malaysia, Vietnam, the Philippines, Indonesia and Singapore. Their clients include government organizations, financial institutions, public certification authorities, software development companies and IT service providers.

"This IPO (initial public offering) will allow us to supercharge our regional expansion plans and enhance our branding.

“As one of the regional players from Malaysia, the group offers digital security solutions in a market which has traditionally been dominated by a few key multinational players. We have identified the importance of localizing both our services and solutions.

“Our ability to provide such localized solutions that fit our clients’ needs and regulatory frameworks has differentiated us from other players. Over the years, we have grown our reach beyond our home market to foreign markets, with overseas revenue contributing the bulk of our revenue,” Law added.

Securemetric's initial public offering will involve a public issue of 68 million new shares, of which 17 million will be made available for application by the Malaysian public, while 48 million will be placed to identified investors; the remainder 3 million will be set aside for eligible employees of the group.

TA Securities Holdings Bhd is the principal adviser, sponsor, underwriter and placement agent for Securemetric’s IPO.