Insights Analytics to raise RM44mil

From left: M&A Securities Sdn Bhd head of corporate finance Gary Ting, Sarawak Deputy Premier Datuk Amar Professor Dr Sim Kui Hian, Insights Analytics Bhd chairman Datuk Abdul Wahab Aziz, Sarawak Premier Tan Sri Abang Abdul Rahman Zohari Tun Abang Openg, Insights Analytics managing director Frank Wee, M&A Equity Holdings Bhd managing director Datuk Bill Tan and Insights Analytics executive director Bong Joon Fook.

PETALING JAYA: Sarawak-based technology solutions provider Insights Analytics Bhd expects to raise RM43.6mil through its listing exercise on the ACE Market of Bursa Malaysia.

In a statement, the company said it plans to use RM22.2mil (50.9%) of the proceeds raised from the initial public offering to support working capital for ongoing and upcoming projects, particularly in the smart water management sector and Sarawak’s broader smart city development initiatives.

“A further RM9mil (20.7%) of the proceeds will be channelled towards investments and acquisitions of companies that complement Insights Analytics’ core business as well as broaden its technological capabilities, in line with the group’s strategy to strengthen its market position as a leading solutions provider.”