KUALA LUMPUR: Electronics manufacturer Cnergenz Bhd made its debut on the ACE Market of Bursa Malaysia at 60.5 sen a share, which was a 2.5 sen or 4.31% premium over the initial public offering (IPO) price of 58 sen a share.
“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," said Cnergenz chairman Datuk Azman Mahmud in a statement issued in conjunction with the listing ceremony.
Cenergenz raised RM58mil in funds from the IPO, which will go towards its facility expansion plans, R&D activities and general working capital purposes.
The company specialises in surface mount technology manufacturing solutions for the electronics and semiconductor industries.
According to the statement, Cnergenz 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, the company'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 Dec 31, 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 the IPO.