IPO Series - VETECE HOLDINGS BERHAD - ICT Solution Provider

Figure 1: IPO timetable of $VTC (0319.MY)$
-Will be listed on the ACE Board

Full Video on VETECE IPO (Chinese version): - YouTube

Info of IPO
Enlarged no. of shares upon listing: 392M
IPO price: RM0.25
Market capitalization: RM98M
Estimated funds to raise from Public Issue:  RM24.50M
PE ratio = 14.92x (based on FY2023)

Business Model

Figure 6: Financial position of VETECE

Financial overview, industry market, and personal opinion
-From Profit & Loss Statement, the PAT was increased from RM3.14M to RM4.15M from FYE2021 to FYE2022, and RM6.56M in FYE2023. For the FPE2024 (7-month financial period ended 31 March), the recorded PAT was RM2.90M.
-The independent market research report has presented the enterprise IT services industry in Malaysia, which is projected to have a CAGR of 5.7% between 2024-2028, with the base year of 2023.
-Compared with the stated industry players, VETECE has the highest PAT margin, 28.4% as compared to other players like Infomina Berhad, Ramssol Group Berhad, etc. with 15.9% and 19.8% respectively.

Would you apply for this IPO? Share your thoughts in the comments section below

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The details of the IPO prospectus can be accessed through
https://www.klsescreener.com/v2/announcements/view/7560695