For Immediate Release
28 March 2002
(Hong Kong - 28 March 2002) Scheduled for official listing on the Malaysian Exchange of Securities of Dealing and Automated Quotation Berhad ("MESDAQ") on 8 April 2002, PUC Founder (MSC) Berhad ("PUC Founder"), an associated company of Founder Holdings Limited (SEHK: 418), has obtained an oversubscription by 5.5 times for its initial public offer ("IPO") of 2 million ordinary shares. This is record-breaking for any company to be listed on MESDAQ.
A total of 2,140 applications, for a total of 12.994 million shares, have been received for the two million shares made available for subscription by individuals, companies, societies and others. For its listing exercise, PUC Founder had offered a total of 20 million new ordinary shares of RM0.10 each, at an issue price of RM0.42 per share. Among them, 18 million had been set aside for subscription by private placement. Expecting to raise a total of RM8.4 million (approximately HK$16.8 million) from the market, PUC Founder plans to use half of it for further R&D activities.
PUC Founder has been engaging principally in the development and provision of biometric solutions using fingerprint verification technology, provision and localization of Chinese electronic publishing system and information management systems to the Chinese publishing industry, and development and provision of e-commerce solutions and Internet-related services in Malaysia and Singapore. It is under the trademark of FingerTecTM that PUC Founder has been producing and distributing their fingerprint security devices and solutions, which recently won an Innovation Award at the SecuTech Expo 2002 (http://www.secutech.com/english/expo.htm) held at Taipei, Taiwan. FingerTecTM is also the finalist for the upcoming Multimedia Super Corridor-Asia Pacific Information Communication Technology Award (MSC-APICTA) under the Best Security Systems Solution category.
Enquiries
Ms Cindy Cheung, Public Relations Officer, Founder Holdings Limited
[email protected] (E-mail), 852-2611 4124 (Tel), 852-2413 3218 (Fax)
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