Generative Data Intelligence and Kucingko’s Landmark IPO: A New Chapter with Kenanga Investment Bank

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Kucingko Signs Underwriting Deal with Kenanga Investment Bank

Date:

KUALA LUMPUR, June 5, 2024 – (ACN Newswire) – Kucingko Berhad (“Kucingko” or the “Company”), a well-known provider of 2D animation production services, is excited to share that it has signed an underwriting contract with Kenanga Investment Bank Berhad (“Kenanga Investment Bank”) in preparation for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

According to the preliminary prospectus on Bursa Securities' website, Kucingko's IPO plan includes issuing 100 million new ordinary shares to the public and selling 100 million existing ordinary shares. Together, these shares make up 40% of the total increased number of ordinary shares in the company.

The initial public offering includes these steps:

Public Offering ("Offered Shares")

A total of 25.0 million issue shares, which make up 5.0% of the increased total ordinary shares, are designated for the Malaysian public. Out of this allocation, 50% is specifically set aside for Bumiputera investors.

Ten million Issue Shares, which make up 2.0% of the total increased ordinary shares, are set aside for eligible directors, key senior managers, employees, and associates who have played a role in the Kucingko group’s achievements. These shares are distributed through what is referred to as "Pink Form Allocations."

A private placement of 65.0 million Issue Shares, which make up 13.0% of the total increased ordinary shares, has been allocated to chosen investors.

Shares Available for Purchase ("Offer Shares")

A private placement of 100.0 million Offer Shares, which makes up 20.0% of the increased total number of ordinary shares, has been allocated to a select group of investors.

Kenanga Investment Bank will handle the roles of Principal Adviser, Sponsor, Underwriter, and Placement Agent, underwriting the 35 million Issue Shares available for application by the Malaysian Public and through Pink Form Allocations. Mr. See Chin Joo, the Executive Director of Kucingko Berhad, commented, “This IPO perfectly aligns with Kucingko’s goal to expand in the 2D animation industry. The capital raised from the IPO will be crucial for our growth plans, including establishing a sales office in the United States, our primary market, and boosting our production capabilities by opening branch offices in Sabah and Sarawak to leverage the talent in these regions. We are thrilled to be the first animation production studio to list on Bursa and are pleased to have Kenanga Investment Bank guiding us through this important corporate milestone.”

Mr. Ooi Kok Hong, the Executive Director of Kucingko Berhad, thanked Kenanga Investment Bank for their assistance during the IPO process. He mentioned, “Their knowledge and advice have been crucial in aiding Kucingko through the challenging process of becoming a public company. We are confident that Kucingko’s status as the pioneer 2D animation firm on Bursa Malaysia will positively influence the market and the industry, establishing a new standard for quality in the creative field.”

Datuk Roslan Hj Tik, who is the Executive Director and Head of Group Investment Banking and Islamic Banking at Kenanga Investment Bank, expressed that Kucingko Berhad provides a unique opportunity for investors, given that the Malaysian market has traditionally been short on publicly listed animation production companies. He added that they are honored to assist Kucingko with its Initial Public Offering (IPO), enabling one of the top and most respected 2D animation production firms to be listed on Bursa Malaysia. He mentioned that Kucingko's IPO is a significant milestone and could potentially encourage other creative businesses to follow a similar route.

Kucingko Berhad can be found at https://www.kucingko.com/

Topic: Summary of a Press Release

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Source: Kucingko Berhad

Industries: Trading Platforms & Software, Financial Updates, News Updates

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