By SULHI KHALID / Pic By ARIF KARTONO
SUPERGENICS Solution Sdn Bhd aims to raise RM5 million from its IPO on the Leading Entrepreneur Accelerator Programme (LEAP) Market of Bursa Malaysia.
The proceeds will be largely utilised to finance its working capital amounting to RM2 million, the company said.
The IPO entails a public issue of 93 million ordinary shares, with 25 million shares available for the public at 20 sen a share, the group added.
“With the listing status, Supergenics’ profile and corporate image will be further improved, as well as increase clients and investors’ awareness of our company’s presence,” Supergenics MD Tan Bii Chau said at the launch of the firm’s information memorandum in Petaling Jaya (PJ), Selangor, yesterday.
Upon its listing on the LEAP Market, Supergenics’ market capitalisation will stand at RM18.6 million.
The group intends to earmark RM1 million for the development of a showcase cleanroom, RM1 million for the enhancement and development of its laboratory monitoring and control system, and another RM1 million for expenses related to the listing exercise.
The additional working capital raised is in anticipation of more projects being undertaken throughout Malaysia, it added.
Presently, the projects undertaken by the group are all located within the Klang Valley.
Moving forward, the group intends to participate in tenders and negotiations for projects located in Penang, Johor and Sabah, as well as foreign projects in Brunei and Indonesia.
According to an independent research body, the cleanroom market in specialised medical laboratories is expected to grow at 8.8% between 2018 and 2023.
Supergenics is principally an investment holding company, while its subsidiaries are principally involved in the provision of integrated turnkey solutions for the development of cleanrooms and the provision of management services for cleanrooms.
A cleanroom is an enclosed area of a facility in which the concentration of airborne pollutants such as dust and airborne microbes are controlled to specific limits.
Supergenics is slated to be listed by mid-December 2019. Its debut on the LEAP Market will be the 15th listing on the platform this year.
The LEAP Market is aimed at providing companies, particularly small and medium enterprises, with greater fundraising access and visibility via the capital market. It is accessible only to sophisticated investors, namely accredited investors, high-net-worth entities and high-net-worth individuals.
Thinkat Advisory Sdn Bhd is the approved advisor, placement agent, custodian and continuing advisor for the listing.