Securemetric Berhad, a regional player offering digital security products and solutions across South East Asia made its debut on the ACE Market of Bursa Malaysia Securities Berhad.

The Company began trading under the stock name SMETRIC and stock code 0203,  Securemetric’s Initial Public Offering (IPO) price was RM0.25 per share, with listing market capitalisation of RM60.9 million.

The response to Securemetric’s IPO was overwhelming, with the retail offering to the Malaysian public oversubscribed by 20.26 times. Securemetric Berhad raised RM17 million via the listing exercise.

Of the total proceeds, RM5.70 million will be utilized for development of new digital security solutions, RM5.16 million for working capital purposes and RM1.70 million for business expansion while the remaining proceeds of RM4.44 million will be used for repayment of borrowings and defrayment of IPO expenses.

“Digitalisation is moving at a rampant pace across South East Asia and we are well poised to seize this momentum.

“Cyber threats are needs to be addressed and our focus is to provide best-in-class solutions to our clients which span across government organisations, financial institutions, public certification authorities, software development companies and IT service providers.

“We are pleased that our company has achieved yet another major milestone with the successful listing,” said Securemetric chief executive officer, Edward Law Seeh Key.

“Our IPO marks the beginning of a new phase in Securemetric’s corporate development and with our presence now spread across key markets in South East Asia, we believe that the listing will serve as a platform for us to further expand our operations locally and regionally.

“Going forward, we will continue to enhance our Research & Development (R&D) capabilities and develop new digital security solutions to meet evolving market needs,” added Edward.

Securemetric and its subsidiaries offer digital security products and solutions mainly across South East Asia (SEA) countries, with local presence in Malaysia, Vietnam, Philippines, Indonesia, and Singapore.

The Group’s expertise lies in software licensing protection, two-factor authentication (2FA), Public Key Infrastructure (PKI) and centralised authentication management system.

The group’s ability to localise digital security solutions to meet requirements of clients in different countries has enabled the group to continuously grow its regional client base and secure projects across its key markets.

For financial year ended 31 December 2017, more than 85 per cent of the Group’s revenue was derived from overseas.

“Increasing technology adoption in commerce, government services and our daily activities has led to growing awareness of the importance of digital security.

“The major forces driving the cybersecurity market growth are strict data protection directives and rising cyber terrorism while industry studies have estimated that cybercrimes could cost the world a staggering USD6 trillion by 2021, doubling from USD3 trillion in 2015.

“Such devastating impact should be a wake-up call for governments and organisations in the region to bolster their defences in digital security,” said Edward.

TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Securemetric’s IPO.

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