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SNS Signs Underwriting Agreement With M&A Securities In Conjunction With Its Initial Public Offering


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Information and communications technology (“ICT”) system and solutions provider SNS Network Technology Berhad (“SNS” or the “Company”) has today signed an Underwriting Agreement with M & A Securities Sdn Bhd (“M&A Securities”) (合盈证券私人有限公司) in conjunction with its initial public offering (“IPO”) exercise to list on the ACE Market of Bursa Malaysia Securities
Berhad (“Bursa Securities”).

Left to right: Mr Kelvin Pah (彭伟安), Executive Director of SNS Network Technology Berhad, Mr Ko Yun Hung (吴云汉), Managing Director of SNS Network Technology Berhad, Miss Rachel Ho (何朝玲), Deputy Head of Corporate Finance of M&A Securities Sdn Bhd, Datuk Bill Tan (拿督陈俊㟽), Managing Director of Corporate Finance of M&A Securities Sdn Bhd, Mr Gary Ting (丁华代), Head of Corporate Finance of M&A Securities Sdn Bhd.

The IPO entails a Public Issue of 362.9 million new shares in SNS, representing 22.5% of the enlarged share capital and an Offer for Sale of 48.4 million existing shares to selected investors by way of Private Placement.

Of the 362.9 million new shares, 80.6 million new shares will be made available to the Malaysian public via balloting; 48.4 million new shares for its eligible Directors, employees and persons who have contributed to the success of SNS Group under the Pink Form Allocations; 201.6 million new shares are reserved for private placement to Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia while the remaining 32.3 million new shares will be placed out to selected investors.

Pursuant to the Underwriting Agreement, M&A Securities will underwrite a total of 129.0 million new shares made available for application by the Malaysian public and Pink Form Allocations.


SNS is principally involved in the provision of ICT products, services and solutions. The Company’s core business activities are the sale of ICT products comprising hardware, devices, and related peripherals for third-party brands and its house brand, JOI® via its physical store channel, online store channel and commercial channel (eg: businesses, government agencies and educational institutions).

Its ICT services and solutions are broadly categorised into complementary ICT services and solutions, value-added ICT services and solutions, JOI® smart classroom framework, device-as-a-service (“DaaS”) subscription-based service and managed ICT services.

SNS is also involved in the provision of device repair and related services for Apple as well as the sale of broadband services for Telekom Malaysia, Celcom and Maxis.

Mr Ko Yun Hung (吴云汉), Managing Director of SNS said the signing of the agreement will take the Company a step closer towards listing on Bursa Securities

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“The listing is timely for our Group as it will enable us to tap into the equity capital market to raise funds to accelerate the growth of our core business activities.

“The outbreak of the COVID -19 pandemic in 2020 and 2021 had led to the imposition of movement restrictions by the Government to curb the spread of the virus. This has boosted the demand for ICT products and services due to working from home arrangements and online classes for students.

“The pandemic has also served as a catalyst to the rapid adoption and execution of digitalisation initiatives in businesses to adjust to the new normal for business sustainability. Therefore, with the increased reliance on ICT, the demand for ICT products and services is expected to remain strong moving forward,” he added.

Proceeds from the IPO will be used mainly for capital expenditure to expand the Company’s DaaS subscription-based service and to part-finance the construction of the Company’s new Regional Hub.

DaaS is a model for device leasing offered to customers based on monthly subscription payments. The service provides customers with the flexibility to adjust their usage according to their latest business and operational needs to avoid large capital expenditure for bulk purchases of ICT products.

Part of the proceeds will also be used to set up 10 new retail stores, fund the marketing activities for JOI®, repay bank borrowings, and general working capital and defray the estimated listing expenses.

SNS is scheduled to be listed on the ACE Market of Bursa Securities by September 2022.

M&A Securities is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.


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