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3REN unveils prospectus for listing on ACE Market next month

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KUALA LUMPUR: 3REN Bhd, an automation solutions and engineering services provider, has unveiled its initial public offering (IPO) prospectus for its l...

Koh and 3REN head of finance Yeap Siew Wen at a press conference in conjunction with the prospectus launch.

In a statement, 3REN said the IPO will raise RM30.8 million through a public issue of 110 million new ordinary shares at an issue price of 28 sen per share, with 62.3% of the proceeds allocated for business expansion and operational requirements. “This growth stimulus is further supported by the modernisation and transformation of manufacturing facilities towards Industry 4.0 and 5.0 technology. This enables smart factories and sustainable operations in addition to the increased outsourcing and relocation of manufacturing activities to Southeast Asia, which positions us favourably in capturing these unique opportunities,“ he said in his speech at the IPO prospectus launch today.

He mentioned that the government has announced the National Semiconductor Strategy and that the prime minister’s recent visit to Kulim has given them the opportunity to discuss talent issues.

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