IPO raises RM58.0 million towards CNERGENZ's expansion plans and future research and development expenditure
KUALA LUMPUR, May 25, 2022 - (ACN Newswire) - CNERGENZ Berhad (CNERGENZ), an established electronics manufacturing solutions provider based in Penang, has made its debut on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities) under the Technology sector, opening at RM0.605 per share, which is a premium of RM0.025 or 4.31% above the IPO price of RM0.58 per share.
Chairman of CNERGENZ, Dato' Azman bin Mahmud, extended the thanks of the Company to the Securities Commission, Bursa Securities, UOB Kay Hian Securities Sdn Bhd as well as others involved in the IPO exercise, and said, "I would like to thank our investors who have placed their trust and confidence in CNERGENZ, and for their support which has contributed to the success of CNERGENZ's IPO."
"I am confident that CNERGENZ will continue its growth trajectory, enhancing its market presence and operations through its future expansion and development plans. We believe that the introduction of CNERGENZ to the stock exchange will bring greater visibility to investors, and highlights the importance of electronics manufacturing solutions in building up an advanced and efficient manufacturing ecosystem in the country, further strengthening Malaysia's position as a global electronics and semiconductor hub."
Through its IPO, CNERGENZ has successfully raised RM58.0 million in funds, which are expected to be utilised towards the Company's facility expansion plans, research and development activities, as well as general working capital purposes.
"I would also like to thank all our suppliers, customers, investors and shareholders, who have made today's listing a possibility and a memorable event." Dato' Azman bin Mahmud added.
CNERGENZ is an electronics manufacturing solutions provider, specialising in surface mount technology manufacturing solutions for the electronics and semiconductor industries. CNERGENZ's offers its solutions, ranging from 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 E&S Industries, such as IDMs, OSATs, EMS and electronic products brand owners.
Based in Penang, CNERGENZ's market base is primarily in Malaysia (save for Melaka and Johor), contributing 71.9% to the Group's revenue in the recent financial year ended 31 December 2021, and extends to the Company's overseas markets in Vietnam and Thailand.
UOB Kay Hian is the principal adviser, sponsor, underwriter, and placement agent for CNERGENZ's IPO.
CNERGENZ Bhd: https://cnergenz.com
CNERGENZ Bhd: [BURSA: CNERGENZ]