Catcha Digital Berhad Raises RM29.7 million for Growth and Expansion
KUALA LUMPUR, 24 July 2023: Catcha Digital Berhad (“Catcha Digital” or “Company”) announced today that it has successfully raised RM29.7 million from the Rights Issue exercise for growth and expansion of its business. This capital raising is also the final step in the Company’s regularisation plan and its GN2 status is now expected to be lifted. “We are extremely appreciative of our shareholders’ steadfast confidence and support over the past few years as the regularisation plan was carried out. After the completion of the regularsation plan and the upliftment of GN2 status, we can now devote our attention to building, growing and scaling the Company to greater heights,” said Patrick YKin Grove, Chairman of Catcha Digital Berhad. “With the completion of this fundraising exercise, the Company is in a strong position to accelerate its growth plans and realise our vision to build a leading digital group in Southeast Asia. Our aim is to attract the best digital and software companies to join with us, consolidating our position as the industry leader in Southeast Asia thus creating sustainable value for all stakeholders,” said Eric Tan, Chief Executive Officer of Catcha Digital Berhad. More recently on 6 July 2023, Catcha Digital launched a new business unit called “i-Gov" to accelerate The Malaysia Digital Economy Blueprint, specifically focused on working to develop technology solutions and software for the Malaysian government and the public sector. On 28 June 2023, Catcha Digital also announced that its wholly-owned subsidiary, iMedia recorded record profit before tax of RM10.28 million in FYE 2022, representing approximately 69% yearon-year growth. END OF PRESS RELEAS
On behalf of the Board, TA Securities and Malacca Securities wish to announce that TA Securities and Malacca Securities had on 24 July 2023 submitted an application to Bursa Securities seeking its approval for an upliftment of Catcha Digital from being considered as a Cash Company pursuant to Rule 8.03 and GN2 of the AMLR.
For me, it is good news. Bcos all the right issue shares on the hand of Patrick Grove. Not many retailers. It is easier to push up the share price and not much selling pressure.
Next month, Catcha Digital will announce a record quarter profit from I-Media. Another good news is from I-Gov. Buy and hold Catcha Digital. Long-term worth at least RM1.00.
I have the feeling that "if" CATCHA were to be an IPO stock, it would be many times over- subscribed but right issues are not so popular in the Malaysian market.
I will hold this precious gem , CATCHA for mid to long term investment .
When will the new shares from the rights be issued and start trading? Looks like those will sell take profit as rights issue was at 0.235, still substantial profit for them.
I have said that I will hold CATCHA, the precious gem, for mid to long term.
So, its price fluctuations will not affect me in the short term.
I will treat it as if a newly listed stock as I think not many people aware of or know about its huge potentials yet.
No doubt Patrick Grove is famous. But I think many people still unaware of what CATCHA is actually doing especially after its previous name REV Asia Berhad has been changed.
I will stay relaxed. Till then see see you all some other time. Bye Bye
Catcha fundamental is far stronger than before after the regulation. Net cash and making a profit. Now only traded at PE 10x based on profit 15.56M. Dun forget the I-Gov subsidiary will receive the contract anytime soon.
Look at the hidden value of Catcha. Don't just look at price. Catcha is high profit and high growth stock. Buy for long term sure made profit. Just be patience.
This is not a retrace. Run... Run... Downtrend. Expected back to 20sen pershare. No wonder no push today. We have been fooled. PN16 takes 6 month to be lifted only if approved. No RI in the end of the month. Still dont know i-Gov project still proceed or not. Sell on news
I thought I should come back some other time but I have to clearify that : 1) the regularisation is approved. Very good.
2) Allocation of 12.5% to "approved" Bumiputra investors. Wonderful.
Now what CATCHA needs to do is to make a proposal to the SC as how CATHA would proceed with the matter. I think CATCHA has the abilities to handle this well.
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keng88
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Posted by keng88 > 2023-07-24 14:55 | Report Abuse
Congratulations if you sell it. I hope you don't come back to get it back at a high price......Wakaka