Crowdfunding on PitchIn, Qeos LED Plans to Use Capital to become First Crowdfunding Issuer in Malaysia to Go Public

Crowdfunding on PitchIn, Qeos LED plans to raise sufficient capital and then plan a public listing in Singapore later this year or in early 2020, according to a report in Digital News Asia. If the company is successful in their ambition, Qeos will be the first crowdfunded company to accomplish this task in Malaysia.

Malaysia is a country that has pursued a regulated path for equity crowdfunding with multiple platforms now in operation.

Qeos LED,  a subsidiary of Quantum Electro Opto System, is a renewable energy provider for rural communities. One of the company’s ambitions is to provide energy to rural schools offering an alternative to expensive diesel generators – all off grid.

Qeos is seeking to raise  RM 2 million (USD $ 483,000) for a 1% equity stake in the firm. As it stands today, Qeos is a bit short of its funding goal standing at RM 508,000. This is Qeos second crowdfunding round when the company raised RM3 million from 191 investors back in 2017.

DNA explains that QEOS is offering “Redeemable Preference Shares B (RPS B)” with a minimum investment of RM1,000. If or when the company IPOs, these shares will convert into RM 3000 (from the RM 100o) of shares. If an IPO does not take place within 2 years., investors may redeem their shares at a 10% premium.

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