https://www.thestar.com.my/business/business-news/2023/03/02/genetec-seeks-main-market-transfer

PETALING JAYA: Genetec Technology Bhd is seeking to transfer listing of it entire 750 million ordinary shares from the ACE Market to the Main Market of Bursa Malaysia.

In a filing with Bursa Malaysia yesterday, the tech company said the proposed move to transfer increases the company’s credibility, prestige and reputation, as well as provide it with greater recognition and support from investors, particularly larger institutional and foreign investors.

Genetec completed a private placement of 68 million shares on Feb 15, raising a total gross proceeds of RM178mil. Following the private placement, local institutional and foreign investors now hold 32.44% and 24.77% of Genetec shares respectively.