From left: Kucingko executive director See Chin Joo, Kenaga Investment Bank executive director and head of group investment banking and Islamic banking Datuk Roslan Hj Tik and executive director Ooi Kok Hong
KUALA LUMPUR: ACE Market-bound Kucingko Bhd aims to raise RM30mil through its initial public offering (IPO) to fund its capacity expansion.
In a statement, the 2D animation production services provider said RM17.8mil of the proceeds will go towards setting up a production branch office in East Malaysia while another RM4.4mil will be used to set up a sales office in the US.
Of the remainder, RM4.3mil will go towards working capital while RM3.6mil will defray the listing expenses.
“The funds raised from the IPO will enable us to expand our production capabilities locally and improve our operational efficiency, positioning us strongly to meet the increasing demand for high-quality animation content in Malaysia and beyond.
"We are enthusiastic about the opportunities this IPO will create for our company and stakeholders," said executive director Ooi Kok Hong.
Kenanga Investment Bank Bhd
is the principal adviser, sponsor, underwriter and placement agent for the IPO.
