KUALA LUMPUR, June 28, 2024 - (ACN Newswire) - Kucingko Berhad (“Kucingko” or the “Group”), an established 2D animation production services provider, is pleased to announce the launch of its prospectus for the upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad.
![Mr. See Chin Joo, Executive Director, Kucingko Berhad; Datuk Roslan Hj Tik, Executive Director, Head of Group Investment Banking & Islamic Banking Kenanga Investment Bank Berhad; Mr. Ooi Kok Hong, Executive Director, Kucingko Berhad [L-R]](https://photos.acnnewswire.com/20240628.Kucingko1.jpg)
The IPO aims to raise RM30.0 million through the issuance of 100.0 million new shares at an IPO price of RM0.30 per share. The proceeds from the IPO will be allocated as follows:
- RM17.8 million for capacity expansion, including RM11.9 million for the setting up of production branch offices in East Malaysia.
- RM4.4 million for setting up sales office in United States of America (“USA”).
- RM4.3 million for working capital.
- RM3.6 million for listing expenses.
Executive Director of Kucingko Berhad, Mr. See Chin Joo said, “This IPO is a significant milestone for Kucingko. It symbolises our commitment to growth and innovation within the 2D animation industry. By launching our prospectus at the TRX Aurum Theatre, we are proud to be the first company to do so, reflecting our innovative spirit and out-of-the-box thinking. We hope our pioneering spirit will inspire other players in the animation industry to join us in elevating the game and pushing the boundaries of creativity and innovation.”
Executive Director of Kucingko Berhad, Mr. Ooi Kok Hong elaborated, “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.”
Executive Director, Head of Group Investment Banking and Islamic Banking of Kenanga Investment Bank Berhad, Datuk Roslan Hj Tik, added, “Kucingko Berhad is well-positioned to leverage its expertise and strong market presence to achieve significant growth in the coming years. The company's focus on expanding its production capabilities and enhancing operational efficiency aligns perfectly with current market dynamics. We are proud to support Kucingko in this pivotal journey and are confident in its continued success.”
Kucingko has demonstrated robust growth for the financial years under review, underpinned by its expertise in 2D animation production, which accounted for a significant portion of the company’s revenue over recent years. The Company's dedication to quality, efficiency, and creativity has established it as a well-established player in 2D animation sector.
Kenanga Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Kucingko Berhad.
Mr. Ku Chia Loon, Non-Independent Non-Executive Director, Kucingko Berhad; Mr. Puar Chin Jong, Independent Non-Executive Director, Kucingko Berhad; Ms. Quah Bee Fong, Independent Non-Executive Director, Kucingko Berhad; Mr. See Chin Joo, Executive Director, Kucingko Berhad; Datuk Roslan Hj Tik, Executive Director, Head of Group Investment Banking & Islamic Banking Kenanga Investment Bank Berhad; Mr. Ooi Kok Hong, Executive Director, Kucingko Berhad; Mr. Lim Chor Ghee, Independent Non-Executive Chairman, Kucingko Berhad; Ms. Elaine Law Soh Ying, Independent Non-Executive Director, Kucingko Berhad [L-R]
Media Contact:
William Yeo
Swan Consultancy
w.yeo@swanconsultancy.biz
Source: Kucingko Berhad
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