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Cases & Deals
Deal
CTOS Digital Berhad
March 2023
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The Securities and Corporate team led by Tan Ming-li and Cindy Cheang advised Maybank Investment Bank Berhad and RHB Investment Bank Berhad as joint principal advisers, joint bookrunners and joint managing underwriters, together with other underwriters in a RM$1.2 billion IPO of CTOS Digital Berhad on the Main Market of Bursa Malaysia Securities Berhad (‘Bursa Malaysia’), amounting to the largest IPO in the year 2021. The “Reg S” global offering consisted of an offering of up to 1.1 billion shares at an offer price of RM1.10 per share.
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The CTOS Group provides digital solutions across three core customer segments: the key account segment, which includes leading financial institutions and corporates; the commercial segment; and the small and medium businesses, in addition to over 1.3 million individual customers. Principally, the CTOS Group focuses on providing innovative digital solutions across the entire lifecycle of financial institutions, companies, and small and medium enterprises, as well as supporting individuals on their own financial literacy.
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The team was involved in the negotiations leading up to a total of 23 cornerstone investors participating in the institutional offering of the IPO, including renowned names such as the Employees Provident Fund Board, Permodalan Nasional Bhd, Aberdeen Standard Investment, AIA, Eastspring Investments, FIL Investment Management and JP Morgan Asset Management.
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