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Catcha Digital’s iMedia posts record profit in FY2022

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The group aims to raise RM41.04 million through a rights issue as the final step of its regularisation plan.

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Catcha Digital Bhd said its upcoming rights issue will be the final step of its regularisation plan to lift its Guidance Note 2 status.

PETALING JAYA:
Catcha Digital Bhd has announced that its wholly owned subsidiary iMedia Asia Sdn Bhd generated record profits in the 2022 financial year (FY2022).

In a statement today, the group said that iMedia registered a profit before tax (PBT) of RM10.28 million in FY2022, representing an estimated 69% year-on-year growth.

The strong momentum appeared to extend into 2023, with PBT for Q1 FY2023 growing 28% y-o-y to RM3.89 million.

According to the group, as of May 31, iMedia reached over 13.1 million Malaysians each month via its extensive portfolio of digital marketing platforms and services.

In March 2023, the group had concluded its acquisition of iMedia for RM43.92 million in cash and shares.

Group chairman Patrick Grove said this remarkable financial performance reflects Catcha’s unwavering commitment to delivering sustainable growth and creating long-term value for their shareholders.

Catcha, formerly known as Rev Asia Bhd, is an investment holding company focused on operating businesses in the digital media, advertising and software industries.

Meanwhile, Catcha added that it is planning to launch a rights issue to raise up to RM41.04 million as the final step in its regularisation plan to have its Guidance Note 2 status lifted.

The exercise involves the issuance of up to 174,640,020 new ordinary shares in Catcha, with a rights share offered for each existing share held by entitled shareholders.

The issue price for each rights share is fixed at RM0.235.

Catcha CEO Eric Tan said the rights issue presents a compelling opportunity for their shareholders to actively participate in the company’s growth.

“With an attractively priced offering, we believe this is an opportune moment to capitalise on the company’s potential as we ride the fast-growing wave of digitalisation,” he said, adding that this is the beginning of the group’s expansion journey.

“Our aim is to attract the best digital and software companies to collaborate with us, consolidating our position as the industry leader in Southeast Asia, thus creating sustainable value for all stakeholders,” Tan added.

At market close today, Catcha’s share price was up 1.5 sen or 6.52% at 24.5 sen, giving the company a market capitalisation of RM32.27 million.

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