Oppstar inks underwriting agreement with Affin Hwang Investment Bank
KUALA LUMPUR: Oppstar Berhad (Oppstar), an integrated circuit (IC) design service provider, today signed an underwriting agreement with Affin Hwang Investment Bank Berhad (AHIB) in conjunction with its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia Securities Berhad.
Oppstar’s IPO involves a public issue of 165.479 million new shares, which represents approximately 26 per cent of its enlarged issued share capital of 636,200,000 shares upon listing.
AHIB is the sole underwriter of the 54.07 million shares made available for application by the Malaysian public and eligible directors, employees and business associates of the group.
Oppstar’s executive director/ chief executive officer, Ng Meng Thai said, “The signing of the underwriting agreement symbolises a significant milestone for Oppstar as it brings us one step closer to being a listed entity.
“The IPO will provide funding for our expansion and enable the public to participate in the group’s growth. We aim to increase our presence in the IC design industry in the region and create a greater impact on the semiconductor supply chain.
“I would like to extend my deepest appreciation to AHIB for the support rendered to us throughout our listing exercise.”
AHIB officer-in-Charge Ng Meng Wah added, “We are honoured to be part of Oppstar’s listing exercise by being the principal adviser, sponsor, sole placement agent and sole underwriter.
“Oppstar provides IC design services covering front-end design, back-end design and complete turnkey solutions to its customers in the region and they also work closely with multinational companies in the semiconductor industry.
“With its experienced management team, we believe Oppstar will grow along with the technological trend. We thank Oppstar for the opportunity to be involved in this exciting IPO exercise and we look forward to supporting Oppstar in its future endeavours.”