RichTech inks underwriting deal with KAF

From left: RichTech Digital Bhd executive director Agnes Wong Eei Nien, RichTech managing director Lee Teik Keong, RichTech non-independent non-executive chairman Wong Koon Wai, KAF Investment Bank Bhd chief executive officer Rohaizad Ismail and KAF Investment corporate finance director Yap Chin Fatt.

PETALING JAYA: RichTech Digital Bhd has entered into an underwriting agreement with KAF Investment Bank Bhd for its upcoming public offering ahead of its listing on the ACE Market of Bursa Malaysia.

RichTech, established in 2010, is a provider of electronic reload and bill payment services in Malaysia, powered by its proprietary SRS platform.

In a statement, RichTech said its initial public offering will consist of a public issue of 54.66 million new ordinary shares and 25.31 million existing shares under an offer for sale, together representing 39.5% of the company’s enlarged issued share capital.

KAF, in its role as principal adviser, sponsor, underwriter and placement agent, will underwrite 11.67 million issue shares allocated for the Malaysian public.