Kuala Lumpur: Cleanroom and facility services provider, iCents Group Holdings Bhd, has signed an underwriting agreement with Alliance Islamic Bank Bhd (AIS) in preparation for its upcoming initial public offering (IPO), aiming for a listing on the ACE Market of Bursa Malaysia by July 2025.
According to BERNAMA News Agency, the IPO exercise includes a public issuance of 112.5 million new ordinary shares, representing 22.5% of iCents’ enlarged issued share capital, along with an offer for sale of 30 million existing shares, which constitutes 6% of its enlarged issued share capital. The statement highlighted that out of the 112.5 million issue shares, 25 million shares are allocated to the Malaysian public via balloting. Additionally, 10 million shares are designated for eligible directors, employees, and contributors to the group’s success. Another 15 million shares are set for private placement to selected investors, while 62.5 million shares will be available for bumiputera investors, approved by the Ministry of Investment, Trade and Industry. Furthermore, 30 million offer shares are earmarked for selected investors through private placement.
Group managing director Ong Mum Fei stated that the underwriting agreement with AIS would endow the company with necessary financial resources and flexibility to advance its strategic growth initiatives. He emphasized the company’s commitment to strengthening its position within Malaysia’s cleanroom industry and advancing geographical market expansion plans in Indonesia, Singapore, and Sarawak through IPO proceeds.
Executive director Foo Siang Leng remarked on the positive outlook for the cleanroom industry, driven by consistent growth in the semiconductor and electronics, data center, pharmaceutical, and food and beverage sectors. He also noted alignment with Malaysia’s New Industrial Master Plan 2030. Leng expressed the company’s intent to leverage these opportunities by enhancing operational capabilities, expanding market reach, and diversifying its product range and addressable markets.