KUALA LUMPUR (Oct 27): Impact Capital Holdings Bhd, a Sarawakian technology firm, has launched its ACE Market listing that will raise RM27.6 million for the company and its shareholders.

The initial public offering (IPO) is priced at 22 sen per share, according to its prospectus. The company will get RM21.3 million from the public issue of new shares while its selling shareholders will pocket the remaining RM6.3 million from the offer for sale of existing shares.

Applications for the IPO will close on Nov 6 and listing is scheduled for Nov 24.

Headquartered in Kuching, Impact Capital mainly integrates technology equipment and systems for infrastructure, including telecommunications infrastructure, enterprise networks, data centres, and security systems.

The company serves government agencies, utilities, financial and merchant service firms, internet technology companies and other corporates. Outstanding jobs on hand at the end of September totalled RM169.9 million, which will generate revenue up to the fiscal year ending June 2030.

Impact Capital is allocating RM4.7 million of the IPO funds raised to set up a new office in Klang Valley and another in Johor Bahru to broaden its customer engagement beyond East Malaysia, as well as to relocate its existing offices in Bintulu and Kota Kinabalu within the same cities.

The company is setting aside RM4.5 million for workforce expansion and business development, as well as RM2.1 million to establish a so-called “digital innovation and solutions centre” in Klang Valley. The rest of the proceeds will be used as working capital and to cover listing expenses.

Managing director Winston Chai Fung Chun and executive director Kok Teck Kuan are putting up part of their existing shares for sale under the IPO. Both Chai and Kok are also co-founders of Impact Capital.

Public Investment Bank Bhd is the IPO’s principal adviser, sponsor, sole underwriter and sole placement agent.