Kucingko Berhad made its debut today on the ACE Market of Bursa Malaysia Securities Berhad openign at RM0.805 per share, showcasing a significant 168.33% premium over the IPO price of RM0.30 per share.
The company specialises in providing high quality 2D animation production for global broadcasters and streaming platforms and is one of the largest animation production company in Malaysia. Kucingko has earned significant recognitions globally, including a BAFTA nomination and several other international awards.
Kucingko Berhad's initial public offering has successfully raised total gross proceeds of RM30 million, which it said will see RM17.8 million being utilised towards capacity expansion, including the establishment of production branch offices in East Malaysia to tap into the skilled local talent pool and upgrade the existing operational office in Selangor; RM4.4 million for setting up a sales office in the United States of America to expand market reach; RM4.2 million for working capital; and RM3.6 million for listing expenses.