QEOS LED launches final ECF campaign to fund IPO plans
By Digital News Asia July 5, 2019
- May become the first Malaysian ECF issuer to become a public listed entity
- Offering Redeemable Preference Shares B priced at RM100 per share to investors
QEOS LED, which raised RM3 million from 191 investors in its maiden pitchIN ECF campaign in December 2017, has launched its final ECF campaign.
The company will use the proceeds of the QEOS LED ECF ROUND 2 to fund ongoing works as well as cover expenses for a planned IPO.
QEOS LED is part of the Quantum Electro Opto Systems (QEOS) Sdn Bhd group of companies. QEOS describes itself as a connectivity company. The company has a connectivity technology portfolio that includes more than 50 patents applied and awarded worldwide, covering People, Power & Data Connectivity Technology.
The QEOS LED ECF ROUND 2 is the 32nd campaign to go live on pitchIN and its seventh of 2019.
Equity crowdfunding, which is regulated in Malaysia by the Securities Commission, is open to all investors, both local and foreign. Positioned as long term investments, investors get shares in the companies they invest in.
QEOS has numerous ongoing projects in Peninsula Malaysia, Sarawak, Cambodia and Bangladesh. The company has also embarked on an acquisition trail which has seen it acquire one company in Sarawak.
It is also in advanced stages of acquiring another Malaysian company and an Australian company. All target companies add value to the QEOS technology and connectivity agenda.
The company is seeking a listing in Singapore, which it expects will happen in late 2019 or early 2020.
This time around, QEOS is offering Redeemable Preference Shares B (RPS B) priced at RM100 per share to investors. Minimum investment is RM1,000 as the shares are offered in blocks of 20 shares each.
When an IPO happens, these RPS B shares will convert into IPO shares. Every RM1,000 invested in RPS B shares will covert into RM3,000 worth of IPO shares. The RPS B shares also confer the right to investors to redeem their shares in two years time, at a 10% premium, if an IPO does not take place or conversion to ordinary shares of the company.
As at time of writing, the campaign has already raised RM497,000 from 47 investors.
Full campaign details can be found on the pitchIN platform at http://bit.ly/qeosecf2.