Oppstar’s initial public offering (IPO) exercise will comprise a public issue of 165,479,000 new shares, representing approximately 26% of its enlarged issued share capital.
GEORGE TOWN: Oppstar Bhd
has obtained the approval from Bursa Malaysia to list on the ACE Market.
The group is principally involved in the provision of integrated circuit (IC) design services covering front-end design, back-end design and complete turnkey solutions.
It also provides other related services such as post-silicon validation services, training as well as consultancy services.
In conjunction with the listing, Oppstar’s initial public offering (IPO) exercise will comprise a public issue of 165,479,000 new shares, representing approximately 26% of its enlarged issued share capital.
Of these 165,479,000 shares, 31,810,000 shares will be made available for application by the Malaysian public and 22,267,000 shares will be made available for application by the eligible directors, employees and business associates who have contributed to the success of the group.
Another 31,877,000 shares will be made available through private placement to selected investors. The remaining 79,525,000 shares will be made available through private placement to identified bumiputra investors approved by the International Trade and Industry of Malaysia.
Oppstar’s executive director and chief executive officer Ng Meng Thai said the approval allows the group to embark on the next phase of growth.
“With the continuing evolution in technology and shortening of the product development cycle, IC designs are getting more advanced and complex. Thus, the IC design house plays a crucial role in the semiconductor supply chain.
“With the experience and talents that we have, we are confident that Oppstar will benefit in this technological trend and industry demands,” he added in a statement yesterday.
He said the IPO exercise will help the group speed up its expansion plans and increase its presence in the IC design industry.
“We have a few expansion plans in the pipeline which will further reinforce our position in this industry and even be the catalyst for our business in the future,” he added.
