KUALA LUMPUR, December 6 – RichTech Digital Berhad, a pioneer in electronic reloads and bill payment services in Malaysia, has officially signed an underwriting agreement with KAF Investment Bank Berhad in preparation for its public offering on the ACE Market of Bursa Malaysia. The IPO will involve the issuance of 54.66 million new ordinary shares and the offering of 25.31 million existing shares, collectively representing 39.50% of the company’s enlarged share capital.
KAF, serving as Principal Adviser, Sponsor, Underwriter, and Placement Agent, will underwrite 11.67 million shares allocated to Malaysian public and eligible individuals. Proceeds from the IPO will bolster RichTech’s proprietary SRS platform, which serves over 4 million users nationwide, enabling mobile airtime reloads, bill payments, and more. Funds will also support technological advancements, marketing efforts, and the acquisition of a new consolidated headquarters.
Managing Director Lee Teik Keong emphasized the company’s commitment to innovation and growth, stating the IPO marks a transformative step in scaling its services. KAF CEO Rohaizad Ismail lauded RichTech’s potential to lead Malaysia’s electronic reloads and bill payment sector, asserting that the listing will strengthen its market presence and deliver exceptional stakeholder value.
