ACE Market-bound PEOPLElogy To Raise RM26.25 Million For Business Expansion
Consultancy services and training provider PEOPLElogy Bhd aims to raise RM26.25 million from its IPO exercise for both local and overseas business expansion.
The company's IPO entails a public issuance of 105 million new shares at an issue price of 25 sen apiece.
'Of the total proceeds, 32.38% will be allocated to establish a cyber range computer simulation lab, 15.24% for strategic investments and merger and acquisition activities, 11.43% for software research and development, and the remaining 11.05% for office and training centre expansion in Indonesia and the Philippines.
PEOPLElogy non-independent Executive Director and Managing Director Allen Lee said the company aims to establish a cyber range computer simulation lab because the demand for cybersecurity has risen due to the growing number of cyber threats and data breaches in Malaysia.
He added that the company plans to expand into East Malaysia, Indonesia, and the Philippines to seize growth opportunities.
Application of PEOPLElogy's IPO shares opens on April 21 and ends 5pm on May 6.
Kenanga Investment Bank Bhd is the principal advisor, sponsor, underwriter and placement agent. Related
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