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PETALING JAYA: Professional business services provider CC International Bhd made a debut on the LEAP Market of Bursa Malaysia Securities Bhd today, opening at 27 sen per share, at a 1 sen or 3.85% premium from its 26 sen initial public offering (IPO) price.
CC International Bhd executive chairman Datuk Dr Chua Hock Hoo said the company has moved one step closer to realising its business plans with the listing.
“Moving forward, we intend to leverage on our strong track record and continue to seek market opportunities and strengthen our presence in the local and regional market. Given our strong foundation, expertise and experience, we are confident the group will continue to record strong performance in the coming years,” he added.
The CC International group of companies service offerings comprise Global Business Services – accounting and business service outsourcing, tax, corporate secretarial, business consultancy and wealth management services. The group’s clientele comprises corporate clients such as small and medium enterprises, large private corporations, public listed companies, multinational corporations, government institutions and foundations as well as individual clients. To date, CC International Group is serving 8,000 corporate and individual clients at its 13 offices in Malaysia.
CC International had undertaken a placement of 38.7 million new shares, representing 10% of enlarged share capital of 386.24 million shares to selected sophisticated investors. It had raised gross proceeds of RM10.06 million at a market capitalisation of RM100.42 million.
About RM6 million of the gross proceeds raised will be used to fund the group’s growth through mergers and acquisitions, joint ventures, strategic partnerships and/or collaborations with other professional service providers that provide similar or complementary services. RM1 million will be utilised for investment in software and hardware for its new branch offices as well as additional information technology personnel to facilitate business process outsourcing services. The remaining RM2.06 million and RM1 million will be allocated to fund working capital and listing expenses.
