TT Vision obtains approval to list on ACE Market of Bursa Securities

KUCHING: TT Vision Holdings Bhd (TTVHB), principally involved in the development and manufacturing of machine vision equipment and provision of related products and services, has obtained the approval from Bursa Malaysia Securities Bhd (Bursa Securities) to list on the ACE Market of Bursa Securities.

In conjunction with its listing, TTVHB’s initial public offering (IPO) exercise will comprise a public issue of 84.5 million new shares, representing approximately 18.06 per cent of its enlarged issued share capital upon listing.

To note, 23.4 million of this 84.5 million new shares or five per cent will be made available for application by the Malaysian public of which at least 50 per cent is to be set aside strictly for Bumiputera public investors while 18.10 million shares or 3.87 per cent will be made available for application by eligible directors, employees and persons who have contributed to the success of the group.

The remaining 43 million shares or 9.19 per cent will be made available by way of private placement to selected investors.

An offer for sale of 10.5 million existing shares, equivalent to approximately 2.24 per cent of the enlarged issued share capital, will be made available via private placement to selected investors through the sole placement agent, KAF Investment Bank Bhd (KAF Investment Bank).

“We are glad to receive approval for our listing on the ACE Market of Bursa Securities,” TTVHB’s chief executive officer Goon Koon Yin said.

“With the increase in global demand for semiconductors with the mass production of electric vehicles, and the increasing adoption of solar energy as an alternative source of energy.

“We believe that the machine vision equipment manufacturing industry particularly in relation to the inspection of optoelectronics, integrated circuits and solar cells will be benefited.

“The approval to list on the ACE Market of Bursa Securities allows us to embark on our next phase of growth, and we believe that the IPO exercise will help us further solidify our footing in the machine vision equipment industry.”

KAF Investment Bank is the principal adviser, sponsor, sole underwriter and sole placement agent for this IPO exercise.