TT Vision gets approval to list on ACE Market

PETALING JAYA: TT Vision Holdings Bhd (TTVHB) has obtained approval from the local bourse to list on the ACE Market of Bursa Malaysia.

In a statement yesterday, TTVHB said its initial public offering (IPO) exercise will comprise a public issue of 84.50 million new shares, representing approximately 18.06% of its enlarged issued share capital upon listing.

It said 23.40 million of the 84.50 million new shares (or 5%) will be made available for application by the Malaysian public, of which at least 50% is to be set aside strictly for Bumiputera public investors.

Meanwhile, 18.10 million shares or 3.87% will be made available for application by eligible directors, employees, and persons who have contributed to the success of the group.

The remaining 43 million shares or 9.19% will be made available by way of private placement to selected investors.

TTVHB is principally involved in the development and manufacturing of machine vision equipment and provision of related products and services.

An offer for sale of 10.5 million existing shares, equivalent to approximately 2.24% of the enlarged issued share capital, will be made available via private placement to selected investors through the sole placement agent, KAF Investment Bank Bhd.

TTVHB chief executive officer Goon Koon Yin said the approval to list on the ACE Market of Bursa Malaysia will allow the company to embark on its next phase of growth

“We believe that the IPO exercise will help us further solidify our footing in the machine vision equipment industry.”

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

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