Categories: MarketsNews

TT Vision aims to raise RM28.7m from IPO

TT VISION Holdings Bhd (TTVHB) is planning to raise RM28.7 million from its listing on the ACE Market of Bursa Malaysia with the proceeds used for the expansion of its research and development (R&D) segment and for working capital to continue its growth momentum 

The company, which is principally involved in the development and manufacturing of machine vision equipment and provision of related products and services, launched the prospectus for its IPO on Dec 29. 

Slated to be listed on Jan 18, TTVHB is offering 84.5 million new shares at an issue price of 34 sen per share. 

A total of RM3.6 million will be raised through the offer for sale exercise involving 10.5 million existing TTVHB shares by certain offerors. 

Based on the enlarged share capital of 468 million shares and IPO price of 34 sen per share, TTVHB’s market capitalisation works out to RM159.12 million. 

TTVHB started back in 2001 as a private limited company that was located in Sungai Ara, Penang where its vision inspection modules were designed for local semiconductor companies in Penang. 

Today, it is a developer and manufacturer of machine vision equipment in relation to the inspection of optoelectronics, solar cells, discrete components and integrated circuits, as well as used in vision-guided robotic equipment. 

TTVHB CEO and ED Goon Koon Yin said the company has developed a customer base that includes market leaders in their respective industries which he believes will provide the group with the platform to grow its business.

“To sustain our growth momentum, we will continue to innovate existing and develop new equipment to fulfil our custom- ers’ needs by leveraging on our core expertise in R&D and proven track record.

“We intend to strengthen our R&D capabilities by expanding our R&D department with relevant talents from the industry and procuring materials/parts as well as equipment and software for development of prototypes to ensure TTVHB will always be ahead and kept abreast with the latest technologies and developments,” Goon remarked. 

He said that with the demand for optoelectronics and solar within the semiconductor industry expected to continue growing, TTVHB has set sights on the huge growth potential of both local and global machine vision equipment markets. 

“We intend to expand our coverage to more foreign markets with the aim of raising market awareness and securing orders from prospective customers by participating in exhibitions and conferences in the next two years. We are optimistic that the proactive marketing activities will boost TTVHB’s market presence and increase branding exposure at the international stage.” 

KAF Investment Bank Bhd CEO Rohaizad Ismail expressed confidence that TTVHB will continue to excel with the experience and strong leadership of its management team as well as its overall product quality. 

“The listing will serve as an effective platform for the company as they embark on their next chapter of growth,” he said. 

KAF Investment is the principal advisor, sponsor, sole underwriter and sole placement agent for this IPO exercise. 

  • This article first appeared in The Malaysian Reserve weekly print edition


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