Infomina makes strong debut on ACE Market

PETALING JAYA: Infomina Bhd made a strong debut on the ACE Market of Bursa Malaysia, closing at 53.5 sen or a premium of 13.5 sen over its offer price of 40 sen a share on its maiden trading day yesterday.

The actively traded counter opened at 60 sen before hitting a high of 64 sen and a low of 51 sen in intraday trade.

The regional technology solutions provider raised Rm32.47mil from the public issue of 81.2 million new ordinary shares, with Rm13.96mil or 43% of the proceeds earmarked for working capital and Rm7.6mil or 23.4% to strengthen its research and development capabilities.

Another Rm5.53mil or 17% of the proceeds will be used for regional expansion, the company said in a statement.

Infomina specialises in mainframe technology solutions and owns capabilities in developing solutions based on other technologies.

The group currently services about 60 active clients in market like Malaysia, Singapore, Thailand, the Philippines, Indonesia, Hong Kong, China and Taiwan.

Infomina’s key technology partners include Broadcom Software, CA Technologies, IBM, Hitachi Vantara, Huawei and Vmware.

“We are optimistic there is more room for growth as we execute our order book of more than Rm440mil.

“We are hopeful our tender book of Rm375mil will translate into new contracts and positive news flow in the coming months ahead,” said managing director Yee Chee Meng.