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Agmo Holdings Berhad Debuts on ACE Market of Bursa Securities
- KIBB is the principal adviser, sponsor, underwriter and placement agent for Agmo’s IPO
- Oversubscribed by 120.15 times with the IPO price at RM0.26
- Timeline : 1 August 2022 (Opening of IPO Application); 8 August 2022 (Closing) ; 10 August 2022 (Balloting); 17 August 2022 (Allotment); 18 August 2022 (Listing)
- The public issue raised RM22.1 million of which utilisation of proceeds as follows:
| Description of Utilisation | Estimated Timeframe for Utilisation Upon Listing | Amount (RM ‘000) | Percentage (%) | |
|---|---|---|---|---|
| i. | Investment in a dedicated R&D team | Within 24 months | 3,449 | 15.6 |
| ii. | Investment in a dedicated sales, marketing and business development team | Within 36 months | 2,456 | 11.1 |
| iii. | Investment in a dedicated technical support and maintenance services division | Within 36 months | 3,564 | 16.1 |
| iv. | Establishment of a training and development centre | Within 36 months | 2,541 | 11.5 |
| v. | Regional expansion to Singapore | Within 36 months | 686 | 3.1 |
| vi. | Working capital and related capital expenditure i. Expansion of our mobile and web application development and digital platform-based services ii. Setting up of new office | i. Within 30 months ii. Within 12 months | i. 5,917 ii. 305 | i. 26.8 ii. 1.4 |
| vii. | Listing expenses | Immediate | 3,182 | 14.4 |
| Total Public Issue Proceeds | 50,100 | 100.0 |
Highlight of 1st Day Trading
- Closed at RM0.785
- 201.92% premium over IPO price of RM0.26
- 1st day closing with the market capitalisation is about RM255.13 million
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