KUALA LUMPUR, 30 JUNE: CTOS Digital Bhd (previously CTOS Holdings Sdn Bhd) is attempting to raise RM1.2 billion through a Main Market offering at a price of RM1.10 per share. CTOS Digital has a market capitalisation of RM2.4 billion, based on the issue price of RM1.10 per share.
The initial public offering (IPO) comprises the sale of 900 million existing shares as well as the public issuing of 200 million new shares.
Creador is CTOS Digital’s largest stakeholder, owning 80 percent of the company and 1.6 billion shares prior to the IPO. The listing exercise allows the private equity fund to sell 720 million shares. The fund will be able to pocket RM792 million as a result of this.
According to the group’s prospectus, Creador’s holding will drop to 40%, or 880 million shares, after the IPO.
On the distribution of the 200 million new shares, 44 million will be available for balloting by Malaysians, 120 million will be available for balloting by the group’s eligible directors, employees, and persons who have contributed to the group’s success, and the remaining 36 million will be offered to Malaysian and foreign institutional investors.
CTOS Digital’s initial public offering (IPO) application period begins today (June 30, 2021) and ends on July 6, 2021. On July 19, 2021, it is planned to float on Bursa Malaysia’s Main Market.
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