KUALA LUMPUR: Ramssol Group Bhd (RGB) signed an underwriting agreement with Kenanga Investment Bank Bhd (KIBB) for its initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia.
RGB chief executive officer Cllement Tan Chee Seng said the need to transform businesses to drive performance is important while the Covid-19 pandemic drives the way businesses operate and employees' communication that has changed significantly.
"We are here to provide the solutions that meet the needs of businesses in the face of these changes," he said in a statement today.
RGB is a local leading human capital management (HCM) solutions and technology provider that has offices in Malaysia, Singapore, Thailand, Vietnam, and Indonesia.
KIBB was appointed as RGB's principal adviser, sponsor, underwriter and placement agent for the IPO exercise.
KIBB will underwrite a total of 16,800,000 shares.
RGB's suite of services helps to enhance human resources (HR) functions in organisations and educational institutions through automating administration processes and streamlining policies for effective workforce management.
Other services include information technology (IT) staff augmentation services to recruit and supply IT personnel to businesses.
The company developed Feet's, an employee engagement mobile app designed to promote effective communications among employees.
Feet's is offered in Malaysia and Indonesia.
RGB also offers Lark, an all-in-one collaborative platform facilitating operations between various applications within an organisation.
The company aims to become the leading HCM provider in the region is working on expanding its regional presence in Southeast Asia by tapping into the Philippines market as well as increasing the regional user base for Feet's and Lark.
While expanding its regional presence, RGB will also amplify IT staff augmentation-related businesses and engage more large corporations to subscribe to their software licenses as part of the expansion strategy.
"The signing of the underwriting agreement will bring us forward to materialising the growth plans for the company.
"We are excited to enter this new phase in our corporate journey whilst being mindful of the responsibilities of a public listed company," said Cllement.
KIBB executive director and head of group investment banking and Islamic banking Datuk Roslan Tik said RGB's rapid growth across Southeast Asia is a testament to the experience and commitment of the management team's excellent track record of 12 years in the HR solutions and technology businesses.
"We believe that demand for their solutions will continue to grow as businesses see the need to adopt digital technology," he said.