Cnergenz Berhad (CNERGENZ), an electronics manufacturing solutions provider based in Penang, specialising in surface mount technology (SMT) catering to the electronics and semiconductor industries (E&S Industries) has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (UOB Kay Hian) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).
What Does Cnergenz Do Exactly?
Cnergenz caters to domestic and international customers across Malaysia, Vietnam and Thailand. Cnergenz has a customer base of over 100 local and multinational companies operating within the E&S Industries, comprising integrated design manufacturers (IDMs), outsourced semiconductor assembly and test service providers (OSATs) and electronics manufacturing service providers (EMSs), some of which have been customers of Cnergenz for over 15 years. Cnergenz also collaborates closely with its network of over 50 suppliers to offer quality solutions for their customers, building a strong network and contributing to Cnergenz’s business development and growth.
Effects of This Development between Cnergenz Berhad and UOB Kay Hian
UOB Kay Hian will underwrite an aggregate of 35.0 million issue shares, comprising 25.0 million shares under the public issue and 10.0 million shares allocated to Eligible Persons as part of the underwriting agreement.
This listing will enable us to strengthen our name as a leading electronics manufacturing solutions provider in Malaysia whilst deepening our presence in Thailand and Vietnam, countries which are benefitting from strong investment flows into the E&S Industries.
Chief Executive Officer of Cnergenz, Mr. Lye Yhin Choy
The company had obtained approval to list on the ACE Market of Bursa Securities and is targeting to launch its Prospectus in April 2022. The IPO exercise involves the public issue of 100.0 million issue shares and an offer for sale of 50.0 million offer shares by way of private placement.
From the public issue, 25.0 million issue shares will be made available for application to the Malaysian public, 10.0 million shares will be allocated for application by eligible directors and employees as well as persons who have contributed to the success of Cnergenz Group (“Group”) (“Eligible Persons”), 52.75 million shares will be reserved for private placement to identified investors and 12.25 million shares will be reserved for private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry (“MITI”)
For more information, please visit Cnergenz Bhd.’s website.
