Oppstar inks underwriting agreement with Affin Hwang Investment Bank

The agreement is in conjunction with its IPO on the ACE Market

OPPSTAR Bhd has inked an underwriting agreement with Affin Hwang Investment Bank Bhd in conjunction with its IPO on the ACE Market.

The integrated circuit (IC) design service provider said its IPO involves a public issue of 165.48 million new shares or 26% of its enlarged issued share capital of 636.2 million shares upon listing.

Of the shares, 31.81 million will be made available for application by the Malaysian public.

The company will also make available 22.27 million shares for application by eligible directors, employees and business associates who have contributed to the success of the group.

Via private placement, 31.88 million shares will be allocated to selected investors and 79.53 million shares to identified Bumiputera investors approved by the International Trade and Industry Ministry.

“The signing of the underwriting agreement symbolises a significant milestone for Oppstar as it brings us one step closer to being a listed entity,” said Oppstar ED and CEO Ng Meng Thai in a statement.

“The IPO will provide funding for our expansion and enable the public to participate in the group’s growth. We aim to increase our presence in the IC design industry in the region and create a greater impact on the semiconductor supply chain,” he added.

Oppstar provides IC design services covering both front- and back-end designs and complete turnkey solutions to its customers in the region and also works closely with multinational companies in the semiconductor industry.

The IC that the group designs can be used for end products in various industries such as telecommunications, industrial electronics, automotive and consumer electronics. — TMR / pic courtesy of Oppstar

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