KUALA LUMPUR: Catcha Digital Berhad announced today that its wholly-owned subsidiary, iMedia Asia Sdn Bhd and its subsidiaries (iMedia), recorded record profit and growth in 2022.
Further, as a final step in its Regularisation Plan, Catcha Digital has launched an abridged prospectus in relation to a renounceable rights issue involving the issuance of up to 174,640,020 new ordinary shares in Catcha Digital (Rights Share) on the basis of one Rights Share for every one existing Catcha Digital share held by the entitled shareholders at an issue price for each Rights Share fixed at RM0.235 (Rights Issue), to raise up to RM41.04 million, with RM18.00 million already committed by its major shareholder, Catcha Group Pte Ltd. Upon completion of the Regularisation Plan, the Company will have its GN2 status lifted.
Despite volatile market conditions, iMedia recorded a Profit Before Tax (PBT) of RM10.28 million in FYE 2022, representing year-on-year growth of approximately 69%. This growth has continued in 2023, where in the first quarter ended 31 March 2023, the PBT grew by approximately 28% compared with the same period last year to reach RM3.89 million for the first quarter of 2023.
iMedia reaches over 13.1 million Malaysians each month as of 31 May 2023 via its extensive portfolio of digital marketing platforms and services over 100 brands across multiple industries.
“I have worked with the team behind iMedia for over 20 years, and I am thrilled to witness the remarkable growth and achievements they have accomplished. The team’s expertise and dedication have solidified their position as an industry leader in the digital media landscape. The remarkable financial performance reflects our unwavering commitment to delivering sustainable growth and creating long-term value for our shareholders,” said Patrick YKin Grove, Chairman of Catcha Digital.
“The Rights Issue presents a compelling opportunity for our valued shareholders to actively participate in the growth of Catcha Digital. With an attractively priced offering, we believe this is an opportune moment to capitalise on the Company’s potential as we ride the fast-growing wave of digitalisation,” said Eric Tan, Group Chief Executive Officer of Catcha Digital.
“We are at the beginning of Catcha Digital’s expansion journey and we are determined to accelerate our growth trajectory and actively pursue highly accretive investment opportunities that align with our strategic objectives. Our aim is to attract the best digital and software companies to collaborate with us, consolidating our position as the industry leader in Southeast Asia thus creating sustainable value for all stakeholders”
