KUALA LUMPUR, March 1 – RichTech Digital Berhad (“RichTech”), a key player in Malaysia’s electronic reload and bill payment services, made a remarkable debut on the ACE Market of Bursa Malaysia, opening at RM0.75 per share, a 200% premium over its IPO price of RM0.25. The listing, under the stock name “RTECH”, underscores the company’s growing influence in the digital payment industry.
With over 4 million users nationwide, RichTech aims to leverage its proprietary SRS platform to drive further growth. The company raised RM13.67 million from its IPO, with funds allocated for marketing expansion, office acquisition, and platform scaling. Chairman Wong Koon Wai described the listing as a major milestone, reinforcing RichTech’s commitment to innovation and market leadership in Malaysia’s rapidly expanding digital payment sector, which is projected to grow at a CAGR of 11.5% from 2024 to 2026.
