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 teamWithin 24 months 3,449 15.6
ii.Investment in a dedicated sales, marketing and business development teamWithin 36 months 2,456 11.1
iii.Investment in a dedicated technical support and maintenance services division Within 36 months 3,56416.1
iv.Establishment of a training and development centreWithin 36 months 2,54111.5
v.Regional expansion to SingaporeWithin 36 months 6863.1
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 3,18214.4
Total Public Issue Proceeds50,100100.0

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