Catcha Digital raises RM30mil for expansion

PETALING JAYA: Catcha Digital Bhd’s rights issues fell short of target with its acceptance, excess application and payment only amounting to 72.4% of the total rights shares available.

In a filing with Bursa Malaysia, the digital media solutions provider noted it had received a total valid acceptance and excess application for 126.4 million rights shares as compared to 174.6 million rights shares available for subscription.

By breakdown, the valid acceptance was recorded at 58.85% for 102.8 million rights shares while its total valid excess applications were recorded at 13.5% or 23.7 million rights.

The company managed to raise RM29.7mil as opposed to its planned RM41mil with the proceeds set to be used for growth and expansion of its businesses.

Catcha Digital’s right issue was on the basis of one rights share for every one existing Catcha Digital share held by entitled shareholders at an issue price of each rights share fixed at 23.5 sen.

The capital raising exercise was the final step in Catcha Digital’s regularisation plan and its GN2 status is now expected to be lifted.

Catcha Digital’s chairman Patrick YKin Grove said with the completion of the fundraising exercise, the company is in a strong position to accelerate its growth plans and realise its vision to build a leading digital group in South-East Asia.

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