Radiant glows with 130% premium
> Retail technology solutions provider’s share closes at 53 sen in its debut on ACE Market
PETALING JAYA: Retail technology solutions provider Radiant Globaltech Bhd made its debut on the ACE Market of Bursa Malaysia Securities yesterday, closing at 53 sen, a 30 sen or 130.4% premium over its issue price of 23 sen a share.
About 179.6 million shares were traded, making it the second most active counter for the day.
The group said in a press release issued after the listing ceremony that it aims to expand its customer base by leveraging on its elevated profile as a listed entity and using proceeds raised through its initial public offering (IPO).
Radiant’s IPO raised RM29.5 million, of which RM14.6 million will be allocated for business and capital expansion, while RM4.8 million will be used for working capital. Of the remainder, RM6.6 million will be for repayment of bank borrowings, and RM3.5 million for listing expenses.
Group managing director Paul Yap Ban Foo said the expansion of its customer base will bolster its revenue stream and open up new possibilities in various industry segments.
Given its strong track record, wide portfolio and proven capabilities, he said, the group is optimistic of securing more customers.
“To this end, we are looking to extend our expertise in retail technology solutions to different retail customer types, such as shopping centre retailers, airport retailers and utilities retailers, going forward.
“Moreover, we are also eyeing opportunities to serve food and beverage (F&B) retail chains directly, building on our current scope of services provided through third parties.
“We believe that this strategy would enable us to grow alongside the healthy and recession-proof sector, hence reinforcing our position in the retail technology solutions market,” he added.
Radiant offers end-to-end retail technology solutions in providing a full range of retail hardware and software solutions, as well as maintenance and technical support services. It also provides third-party software and in-house developed portals.
Currently, the group’s list of clients comprises department stores, hypermarkets, supermarkets as well as retail chains and convenience stores. They include Giant, Cold Storage, AEON Big, Parkson, Watsons, Guardian and 99 Speedmart.