From left: Vetece Holdings Bhd group chief executive officer and executive director Chan Wai Hoong, Kenanga Investment Bank Bhd executive director, head of group investment banking and Islamic banking Datuk Roslan Tik and Vetece non-independent executive vice chairman Vernon Tee Chee Chiang.
PETALING JAYA: Enterprise information technology (IT) solutions provider Vetece Holdings Bhd has inked an underwriting agreement with Kenanga Investment Bank Bhd
in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
Leveraging on the group’s strategic partnerships with industry players such as Oracle, WSO2 and Salesforce, Vetece said in a statement that it is technically equipped to implement and customise the IT solutions to suit its clients’ requirements.
Post-implementation, the group also provides support including maintenance, system upgrades as well as training to clients’ employees.
Vetece’s customers are primarily in the telecommunications and financial services industries.
For the financial year ended Aug 31, 2023, the industries contributed 71% to the group’s revenue.
Its major clients include Telekom Malaysia Bhd, leading banks in the country and Telstra Corp Ltd in Australia.
Vetece is expected to be listed by the third quarter of 2024, with Kenanga Investment Bank as the principal adviser, sponsor, underwriter and placement Agent for the IPO.
