KUALA LUMPUR: Kucingko Bhd will be the first animation production studio to be listed on the local bourse after receiving Bursa Malaysia’s approval for its listing on the ACE Market.
In a statement, the animation production services provider said its initial public offering (IPO) exercise would involve the issuance of 200 million ordinary shares, encapsulating 40% of its enlarged number of issued shares, where an equal portion of 100 million shares each are available under the public issue and offer for sale.
Group executive director See Chin Joo said the IPO would enable the group to tap into new talent pools from Sabah and Sarawak to complement its current 260 artists in its Kelana Jaya office, and a significant portion will be allocated towards increasing production capacity by setting up branch offices in those two states.
He said that the expansion is not just about capacity but also about deepening the group’s business relationships with its existing clients and expanding the clientele network in the United States. — Bernama