KUALA LUMPUR: Digital security solutions provider Securemetric Bhd, which is en route for a listing on the ACE market, expects to raise RM17 million from its initial public offering (IPO) exercise.
The group is scheduled for listing on Nov 13, 2018.
Speaking at a press conference in conjunction with its prospectus launch today, Securemetric CEO Edward Law said that the bulk of the proceeds will be used for development of new digital security solutions and working capital.
Law said the proceeds raised will also be used for regional business expansion and repayment of borrowings.
The group currently offers digital security products and solutions across Southeast Asia, namely Malaysia, Vietnam, the Philippines, Indonesia and Singapore.
Its clients include government organisations, financial institutions, public certification authorities, software development companies and IT service providers.