Cloudpoint Tech aims to raise RM40.4mil from IPO

Cloudpoint Technology executive director and CEO Choong Wai Hoong (sixth from left) with members of the board and representatives from M&A Securities at the prospectus launch of the company's IPO

KUALA LUMPUR: Cloudpoint Technology Bhd, scheduled to make its debut on the ACE Market of Bursa Malaysia on May 29, 2023, plans to raise RM40.4mil from its initial public offering (IPO) to fund its expansion plans.

The IT solutions provider said at the launch of its IPO prospectus it will utilise the proceeds to scale and accelerate its business in the high-growth areas of cloud and cybersecurity.