KUALA LUMPUR: Technology company Total Dynamic Holdings Bhd made its debut on Bursa Malaysia's Leading Entrepreneur Accelerator Platform (LEAP) market today at 27.5 sen, with a premium of 7.5 sen over its offer price of 20 sen per share.
At the opening bell, a total of 34,000 shares were traded.
The company’s listing includes a placement of all its issued share capital totalling RM16.37 million comprising 250 million shares.
Its executive chairman Wong Chew Fong said that based on the issue price, the group would raise RM5 million in gross proceeds, whereby RM1.6 million will be used for its expansion plan with the opening of three new sales and service centres in Melaka, Kota Kinabalu and Alor Setar.
"The reason for this expansion is because logistic companies (our clients) are moving everywhere and we want to service them better," he said during a press conference after the listing today.
Wong said the expansion plan aims to support the needs of its clients, especially those focusing on the southern or northern regions.
Elaborating further, he said new sales and service centres are expected to operate in the second half of 2024 and RM1.5 million will be set aside to strengthen the capabilities of its information technology team.
Wong said part of the proceeds will be used to recruit programmers for software customisation and product development purposes.
He said RM1 million will be utilised for listing expenses while the rest will be used as working capital.
Total Dynamic has around 2,000 logistics company clients in Malaysia and Indonesia. - Bernama
