Kucingko Berhad (Kucingko or the Company), an established 2D animation production services provider, is pleased to announce the signing of an underwriting agreement with Kenanga Investment Bank Berhad (Kenanga Investment Bank) for its upcoming IPO on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).
![Executive Director of Kucingko Berhad, Mr. See Chin Joo; Executive Director, Head of Group Investment Banking and Islamic Banking of Kenanga IB, Datuk Roslan Hj Tik; Executive Director of Kucingko Berhad, Mr. Ooi Kok Hong [L-R]](https://photos.acnnewswire.com/20240605.Kucingko.jpg)
The IPO involves the following:
Public Issue (Issue Shares)
Malaysian public
25.0 million Issue Shares, representing 5.0% of the enlarged number of ordinary shares, are allocated for application by the Malaysian public, with half of this allocation reserved for Bumiputera investors.
Eligible persons
10.0 million Issue Shares, representing 2.0% of the enlarged number of ordinary shares, are allocated for application by eligible directors, key senior management, employees, and associates who have contributed to the Kucingko group’s success (“Pink Form Allocations”).
Private placement to selected investors
65.0 million Issue Shares, representing 13.0% of the enlarged number of ordinary shares are allocated by way of private placement to selected investors.
Offer for Sale (Offer Shares)
Private placement to selected investors
100.0 million Offer Shares representing 20.0% of the enlarged number of ordinary shares are allocated by way of private placement to selected investors.
Kenanga Investment Bank, as Principal Adviser, Sponsor, Underwriter and Placement Agent, will underwrite the 35.0 million Issue Shares made available for application by the Malaysian Public and Pink Form Allocations.Mr. See Chin Joo, Executive Director of Kucingko Berhad said, “This IPO aligns very well with Kucingko’s ambition to grow in the 2D animation sector. The funds raised from the IPO will be instrumental in scaling our business through setting up a sales office in the United States of America, our largest market, and increasing our production capacity by setting up branch offices in Sabah and Sarawak to tap into the talent pools in these two cities. We are also very excited to be the first animation production studio to be listed on Bursa and, we are delighted to have Kenanga Investment Bank to advise us on this significant corporate milestone.”
Mr. Ooi Kok Hong, Executive Director of Kucingko Berhad, expressed his gratitude towards Kenanga Investment Bank for their support in the IPO process. He added, “Their expertise and guidance have been instrumental in helping Kucingko navigate the complexities of going public. We believe that Kucingko’s position as the first 2D animation company to be listed on Bursa Malaysia will have a positive impact on the market and industry, setting a benchmark for excellence in the creative sector.”
Datuk Roslan Hj Tik, Executive Director, Head of Group Investment Banking and Islamic Banking of Kenanga Investment Bank, stated, “Kucingko Berhad offers excellent diversity for investors as the Malaysian market has historically lacked publicly traded animation production companies. We are proud to support Kucingko through its IPO, bringing one of the industry’s most successful and reputable 2D animation production companies to Bursa Malaysia. The IPO of Kucingko marks a momentous occasion, potentially inspiring other creative ventures to pursue such similar paths as well.”
Kucingko Berhad https://www.kucingko.com/