Independent professional cybersecurity services provider LGMS Bhd is seeking a listing on the ACE Market of Bursa Malaysia to raise funds for its business expansion and working capital.

Through its subsidiaries and an associate company, LGMS is involved in cybersecurity assessment, penetration testing, cyber risk management and compliance, and the provision of digital forensic and incident response services.

According to its draft initial public offering prospectus posted on the Securities Commission Malaysia's website, 91.39 million new shares will be issued under the public issue.

Of this, 22.8 million new shares will be available for application by the Malaysian public and another 12.5 million shares by eligible directors and employees, as well as persons who have contributed to the success of the group.

The remaining shares will be offered via private placement, comprising 11.4 million shares for Ministry of International Trade and Industry (MITI)-approved Bumiputera investors and 44.69 million shares for selected investors.

The IPO also comprises an offer for sale of 45.6 million existing shares by way of private placement to identified Bumiputera investors approved by MITI.

For the financial year ended 2020 (FY20), LGMS posted a higher revenue of RM20.65 million compared with RM20.56 million in FY19. The group recorded a revenue of RM17.39 million in FY18.

The group's revenue is mainly supported by contributions from the local market, in addition to Singapore, other ASEAN countries (Cambodia, Indonesia, Thailand and Vietnam), Asian countries (India, Taiwan, Japan and Hong Kong SAR), as well as Canada, Netherlands, Maldives, Australia, Saudi Arabia, France and USA.

LGMS said its business expansion comprises purchase of office, expansion of workforce, capital expenditure on equipment and tools, as well as strategic business expansion.

UOB Kay Hian Securities (M) Sdn Bhd is the principal adviser for the IPO.

This post has been edited by nexona88: Aug 9 2022, 06:22 PM

Soon.

https://www.theedgemarkets.com/article/cybe...o?type=malaysia

This post has been edited by msbr91: May 12 2022, 07:57 AM

Thanks, good info. Followed ur telegram group too!

Waiting for the IPO 😁

Is this a better choice than Unitrade?

Totally way better.

This post has been edited by msbr91: May 17 2022, 08:26 PM

wat bout comparing to yew lee. we need to choose 1 between this n yew lee rite

So between this and Yew Lee, which one better?

If comparing Yew Lee and LGMS I am not sure as I still did not study LGMS prospectus. But surely will apply for both IPO.

This post has been edited by msbr91: May 18 2022, 11:08 AM

If got enough capital then of cos can try for both

both closing date for balloting is near rite.

Yeah one on 25th and the other on 26th

Any advice for balloting first timer?

Who is LGMS ' main competitor yah? Not familiar with cybersecurity field.

no hoot no win
ada beli ada menang
hoot dulu, up or down
belakang kira, heard tp is 60cts
dun know true or not

Too many IPOs akin to excessive raya open house. Already losing appetite and momentum. Bad time for listing.

I ended up picking this one out of the 3. Hope to hoot some...Good luck everyone!

mkt lai leow, going to chiong again soon
nvr say died
sleeping for too long, time to return soon

Good luck everyone..
Endless Possibilities..

Might be good opening