iCents appoints Alliance Islamic Bank as underwriter for ACE Market IPO
KUALA LUMPUR: iCents Group Holdings Bhd, which is embarking on an ACE Market initial public offering (IPO), has inked an agreement with Alliance Islamic Bank Bhd for the underwriting of 35 million shares made available to the Malaysian public and to eligible persons under pink form allocations.
iCents and its subsidiaries are primarily engaged in cleanroom construction and technical services as well as the manufacture of cleanroom fixtures and the supply of cleanroom equipment.
iCents' IPO entails a public issuance of 112.5 million new ordinary shares, representing approximately 22.5% of its enlarged issued share capital, as well as an offer for sale of 30 million existing shares, representing approximately 6% of its enlarged issued share capital.
Out of the issue shares, 25 million shares will be made available to the Malaysian public via balloting and 10 million shares to eligible directors, employees and persons who have contributed to the success of the group.
A further 15 million shares will be made available by way of private placement to selected investors, while the remaining 62.5 million shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry,
Additionally, the 30 million shares on offer for sale will go to selected investors by way of private placement.
"The IPO will provide us with the financial resources and flexibility needed to accelerate our strategic growth plans.
"As we expand our capabilities, we are committed to enhancing our competitive position within Malaysia's cleanroom industry, as well as executing our geographical market expansion plans in Indonesia, Singapore and Sarawak, through the IPO proceeds,' said iCents group managing director Vincent Ong Mum Fei in a statement.
iCents is scheduled to be listed on the ACE Market by July 2025. Alliance Islamic Bank will serve as the principal adviser, sponsor, sole underwriter, and placement agent for the IPO exercise.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
3 hours ago
- Barnama
AEON Credit Issues 10th Sukuk Wakalah Of RM150 Mln
KUALA LUMPUR, July 14 (Bernama) -- Aeon Credit Service (M) Bhd has made its 10th issuance of sukuk wakalah under the Islamic commercial papers (ICP) programme today, with a total nominal amount of RM150 million and a 179-day tenure starting from July 14, 2025. 'The proceeds will be utilised for financing of disbursements to customers in the ordinary course of business of providing consumer financing based on Shariah principle, financing expenses relating to the ICP programme, and refinancing any existing and future Islamic financing facilities of the issuer,' it said in a Bursa Malaysia filing. -- BERNAMA
The Star
4 hours ago
- The Star
Vietnamese brands step up efforts to replace Thai products in Cambodia
PHNOM PENH (Khmer Times): Vietnamese firms are leaving no stones unturned to capture the vacant space after Thai brands were banned following the land border disputes between Cambodia and Thailand. Industry insiders told Khmer Times that marketing teams representing various brands from Vietnam are camping in Phnom Penh to strike a deal with retailers. 'In the past two weeks, Vietnamese brands have substantially increased their market presence, from biscuits to milk and chocolates to noodles,' a manager with one of the leading retail outlets in the country said. 'Although Malaysian brands are also in the race, Vietnamese brands have been the most successful in terms of filling the gap,' he said, pointing at packets of Dalat Milk completely filling the rack once occupied by Thai Dutch Mill dairy products. 'Only Thailand, Laos and Vietnam have land border trade with Cambodia. After the border tensions, land border trade with Thailand remains zero, and Laos simply don't have big brands capable of suddenly scaling up operations and product base. 'So, I must tell it's a goal post with no wicket keeper for Vietnamese brands. They are going to benefit in a big way until the Kingdom solves its border disputes with Thailand.' Another source told Khmer Times that the timely supply by Vietnamese brands helped many supermarkets in Phnom Penh maintain a consistent business. 'There was a sudden panic as land imports were banned from Thailand. Thai products constituted around 25 percent of our sales, and many of them were the most preferred choices of our customers. 'However, consistent supply by Vietnamese brands helped us maintain the sales flow without any disruption. We are also planning to take up the distribution of some Vietnamese brands, which have less market presence in the Kingdom.' Many Vietnamese brands such as Vifon, Acecook and Vi Huong have a strong presence in the processed food retail markets of Cambodia. Moreover, major Vietnamese firms, including Viettel (telecom), BIDV (banking), Hoang Anh Gia Lai (agribusiness) and Vietnam Rubber Group, have already established significant operations in the Kingdom. According to Khac Giang Nguyen, Visiting Fellow at ISEAS – Yusof Ishak Institute, this development also mirrors growing bilateral ties between Vietnam and Cambodia. 'Faced with US tariff threats, Vietnam and Cambodia are recalibrating their economic partnership. Bilateral meetings and trade agreements signal a shift towards regional economic cooperation in 2025,' he observed. 'The investments by Vietnamese firms connect Cambodian firms to broader regional supply chains while providing markets for Cambodian agricultural products within Vietnam's food processing sector.' In another development, the Cambodian Chamber of Commerce and the Vietnam-Cambodia Business Association are set to sign a memorandum of understanding (MoU) tomorrow at the Vietnam-Cambodia Business Networking Conference 2025 that will be held in Ho Chi Minh City. Vietnamese media reported that around 200 enterprises are expected to participate in the event, including 100 Cambodian firms and 100 Vietnamese businesses operating in key sectors such as agriculture, aquaculture, food, consumer goods, machinery, equipment, and fertilisers – 'areas where Vietnam has strong export potential and Cambodia has rising demand'. 'The conference is expected to contribute to the sustainable growth of Vietnam–Cambodia trade, support supply chain stability, and create new cooperation opportunities with both Cambodia and Thailand,' a report in Vietnam Net Global said. 'It also seeks to enhance the long-term presence and competitiveness of Vietnamese goods in the Cambodian market, which is geographically close and relatively barrier-free, with rapid consumer demand growth,' it added. Khmer Times earlier reported that Cambodian consumers were adapting to the market shift, given the fact that Thai products were fast going off the shelves, and being replaced by new brands from other countries. - Khmer Times
The Sun
4 hours ago
- The Sun
Cloud seeding to tackle dry padi fields in Perak
PASIR SALAK: Cloud seeding operations will soon be conducted to alleviate dry conditions affecting padi fields in Perak, announced Agriculture and Food Security Minister Datuk Seri Mohamad Sabu. The move comes after farmers in Kerian raised concerns over declining water levels in Bukit Merah Lake due to prolonged hot weather. Mohamad stated that while cloud seeding has been attempted before, water reservoirs remain a critical issue. 'We are working on the cloud seeding. We've done it before as well, but we'll have to wait and water reservoirs remain a critical concern,' he said during a press conference at the Felcra Berhad Padi Seed Centre. To further address water shortages, a water transfer project from Sungai Perak to Bukit Merah Dam is set to begin in August. This initiative aims to boost water supply for agricultural use in the Kerian region. Separately, Mohamad mentioned that rice supply quotas for manufacturers will be adjusted based on production capacity. 'The quota is based on capacity. If a Bumiputera-owned factory has the capacity, we will do our best to assist,' he explained. The Perak state government recently sought an increased rice supply quota for manufacturers, particularly Bumiputera-owned firms, to ensure stable food production. State committee chairman Datuk Mohd Zolkafly Harun emphasised the need for collaboration between large and small manufacturers to maintain supply chain resilience. - Bernama
