Impact Capital moves closer to ACE Market listing

KUALA LUMPUR: Impact Capital Holdings Bhd has reached an underwriting agreement with Public Investment Bank Bhd for its planned listing on Bursa Malaysia's ACE Market. The IPO will involve the issuance of 96.69 million new shares and the sale of 28.62 million existing shares. Five percent of the expanded share capital will be allocated to Malaysian retail investors, while 3.33 percent is set aside for eligible directors, employees, and contributors.

Another 11.81 percent will be placed with selected investors. Public Investment Bank Bhd will underwrite the 40 million shares designated for the Malaysian public and eligible persons. The company, specializing in ICT systems integration for critical infrastructure, expects the listing to facilitate growth in operations, workforce, and technology investments.

Proceeds from the IPO will be utilized for expanding facilities, funding business development, enhancing technological capabilities, meeting working capital needs, and covering listing expenses. PublicInvest, acting as the principal adviser, sponsor, sole underwriter, and placement agent, is responsible for the IPO.