The listing on July 19 will be the biggest for the year, reported Reuters.

Launching its prospectus, the company said the listing would entail a public issue of 200 million new shares and an offer-for-sale allocation of 900 million existing shares, priced at RM1.10 each.

CTOS said it planned to use RM220 million of the IPO proceeds to repay bank borrowings, investments and acquisition, and defray listing fees and expenses.

RM56 million will be set aside for future acquisitions.

CTOS chief executive officer Dennis Martin said the company had “identified some targets, both local and offshore”.

Reuters had reported earlier that 23 cornerstone investors had signed on to the company’s public market debut, including AIA Group Ltd, Aberdeen Standard Investments and two of Malaysia’s largest government-linked funds.

The listing is the largest since Mr DIY Group’s RM1.5 billion IPO last year.

CTOS, backed by private equity firm Creador Capital Group, provides data and analytical tools to clients to help them manage credit risk and prevent fraud.