We expect to use the gross proceeds from our Public Issue amounting to RM220.0 million(1) in the following manner:
| Details of use of proceeds | Estimated timeframe for use from the date of our Listing | RM'000 | % |
|---|---|---|---|
| Repayment of our bank borrowings | Within three months | 155,181 | 70.5 |
| Defray fees and expenses for our IPO and Listing(2) | Within six months | 6,098 | 2.8 |
| Acquisitions to be identified(3) | Within 36 months | 58,700 | 26.7 |
| Total | 220,000 | 100 |
Notes:
(1) We have assumed that the Institutional Price and the Final Retail Price will be equal to the Retail Price.
(2) Comprises placement fee in respect of the Institutional Offering and brokerage fees and underwriting commission in respect of our Public Issue. The other fees and expenses in respect of our IPO and Listing will be borne by Inodes.
(3) Acquisition targets are companies with digital solutions that complement ours, both in Malaysia and in the Asia Pacific region and have significant growth potential.
* Please read this section in conjunction with Section 4.6 on page 30 to page 31 of CTOS Digital Berhad's Prospectus dated 30 June 2021.