Autocount

[winston]

not vested

ACE Market-bound Autocount expects to raise RM30.88mil from IPO

KUALA LUMPUR: Autocount Dotcom Bhd, en route for a listing on the Bursa Malaysia ACE Market on May 9, 2023, aims to raise RM30.88 million from its initial public offering (IPO).

Autocount will utilise about 56 per cent, or RM17.3 million, from the IPO proceeds for its regional expansion in the ASEAN region. The company is involved in the development and distribution of financial management software.

Managing director Choo Yan Tiee said physical offices will be set up regionally to serve as its local sales offices to promote Autocount software and to provide a better customer experience.

"This expansion in the region will allow Autocount to capture growth opportunities in four ASEAN countries Thailand, Vietnam, Indonesia and the Philippines,” he told reporters after the IPO prospectus launch, here, today.

Choo said another 17 per cent of the IPO proceeds, or RM5.2 million, will be utilised for research and development to expand its product features. This includes enhancing its cloud point of sales (POS), e-commerce solutions, cloud accounting and payroll, and human resources.

The balance of the proceeds will be for the group's working capital and listing expenses, he added.

The market capitalisation of the company on listing is RM181.7 million.

The group is offering approximately 93.6 million new ordinary shares and offer for sale of approximately 44.0 million existing shares at an issue price of 33 sen per share.

The public issue comprises 27.5 million shares that will be made available for application by the Malaysian public, 11.0 million shares for application by the eligible employees and persons who have contributed to the success of Autocount, while 55.1 million shares for applications by way of placement to selected investors.

Another 44.0 million existing shares are offered for sale by way of a private placement to selected investors.

To date, the company has sold 70,000 AutoCount software licenses for use by 210,000 businesses and companies in Malaysia and Singapore.

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Autocount's IPO exercise.

Source: Bernama

https://www.thestar.com.my/business/bus ... l-from-ipo

[winston]

Apex Securities values ACE Market-bound Autocount Dotcom at 59 sen

by Surin Murugiah

Apex Securities has derived a target price of 59 sen for Autocount Dotcom Bhd (ADB), based on the 17x PER of Autocount’s FY24F EPS of 3.5 sen which is 15% premium of its peers’ forward PER of 15x.

ADB is involved in the development and distribution of financial management software mainly compromising accounting, points of sales (POS) and payroll system.

The group has sold approximately 70,000 software licenses and is serving 210,000 businesses and companies.

“The number of subscribers has grown significantly from FY19 to FY22, with an impressive 70% renewal rate each year.

Source: theedgemarkets.com

https://www.theedgemarkets.com/node/664121

[winston]

mot vested

Autocount fair value seen at 59 sen a share

TA Research: target price-to-earnings (PE) multiple of 18 times against Autocount’s 2024 forecast earnings per share.

Source: The Star

https://www.thestar.com.my/business/bus ... en-a-share

[winston]

not vested

Autocount Dotcom Bhd (ADB PREIPO)
Accounting Software Specialist

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/313899.pdf