From left to right: Mr. Chin Fung Wei, Dato’ Dr. Mohd Sofi Bin Osman, Professor Datuk Ir. Ts. Dr. Siti Hamisah Binti Tapsir, Mr. Ng Meng Thai, Mr. Cheah Hun Wah, Mr. Tan Chun Chiat, Dato’ Margaret Yeo.
KUALA LUMPUR, 15 MARCH 2023 – Oppstar Berhad (“Oppstar”), an integrated circuit ("IC”) design service provider, today premiered on the ACE Market of Bursa Malaysia Securities Berhad. The share price opened at RM2.05, equivalent to a 225.40% premium over the issue price of RM0.63, with an opening volume of 19.26 million shares. Oppstar is categorised under the “Technology” sector and carries the stock name of ‘OPPSTAR’ and stock code of ‘0275’.
Oppstar successfully raised RM104.25 million from the initial public offering exercise via the issuance of 165.48 million new ordinary shares. Oppstar will utilise RM50.00 million to expand its workforce and RM25.00 million for the establishment of new offices both locally and regionally. Meanwhile, another RM12.00 million will go towards research and development expenditure along with RM12.65 million for working capital. The remaining RM4.60 million will be allocated for its listing related expenses.
Oppstar’s Executive Director/Chief Executive Officer, Ng Meng Thai said, “Our vision for the company is simple and clear and it is to show the global players that Malaysia is not only known for its back-end semiconductor value chain, but also has the capability to go into front-end semiconductor IC design. I am proud to say that we now serve clients in countries such as China, Malaysia, Japan, Singapore, as well as the USA. As we gradually progress, we continually ask ourselves what we can do to expand our business and continue to build up Malaysia’s profile in the front-end semiconductor space. This was where the rationale to go for a listing came about leading up to this today.”
“With the expansion plans, it will enable us to groom future talent and grow our geographical presence which will progressively help strengthen Malaysia’s front-end semiconductor ecosystem in line with our vision,” he added.
Affin Hwang Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Placement Agent And Sole Underwriter for the initial public offering exercise.