Cnergenz debuts at 60.5 sen on ACE Market

by NURUL SUHAIDI

CNERGENZ Bhd made its debut on the ACE Market at a 60.5 sen premium of 2.5 sen or 4.31% over its IPO price of 58 sen.

At the opening bell, the counter saw 13.26 million shares changing hands.

Cnergenz has successfully raised RM58 million in funds, which will be utilised for the company’s facility expansion plans, research and development activities, as well as general working capital purposes.

Cnergenz specialises in surface mount technology manufacturing solutions for the electronics and semiconductor industries.

Its services include integrated solutions such as production line systems and smart factory solutions to individual machinery, equipment and tools to its network of over 100 customers operating within the electronics and semiconductor industry.

Cnergenz CEO and ED Lye Yhin Choy said demand for electronics gadgets globally, especially with the improving pandemic situation and widespread reopening of borders.

“Nonetheless we foresee a strong future and take up for all electronic gadgets, especially following the country’s transition to endemic and positive purchase sentiments.

“The reopening of the international border also enables the expansion plan being carried out in the territory, especially in Thailand, hence the growth is still very strong for us,” he said after the listing ceremony, held virtually, today.

Lye also added that the company will focus on ESG initiatives and actively aid its clients in optimising their operational efficiency through waste reduction and reduced dependency on heavy energy.

“Our new factory will be a green energy building, in which we will incorporate the latest green energy and make it energy-efficient,” he added.

At the IPO price of 58 sen per share, Cnergenz’s market capitalisation stood at RM288.4 million.