3REN Launches IPO Prospectus, Aiming to Raise RM30.8 Million

3REN has officially launched its IPO prospectus, with the aim of raising RM30.8 million through a public issue of 110 million new shares at 28 sen per share. The funds raised will support key business expansions, including the setup of new delivery centres in Penang for product engineering services, an innovation centre for R&D, and a sales office in Singapore to enhance our regional presence.

A portion of the proceeds will also be allocated to increasing our engineering workforce and supporting working capital, with the remainder used for loan repayments and IPO-related expenses.

Executive Director and CEO, Koh Dim Kuan, highlighted the growth potential in the global semiconductor industry and the role of Industry 4.0 and 5.0 technologies in driving this expansion.

The IPO is open for subscription until 5:00 pm on October 23, 2024.