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NovelPlus Makes Profitable Debut on LEAP Market

KUALA LUMPUR, Jul 1, 2021 – (ACN Newswire) – NovelPlus Technology Berhad (“NTB” or the “Community”), an on-line social reading and writing platform developer and operator, efficiently listed on the LEAP Market of Bursa Securities Malaysia Berhad at the present time at RM0.25 per half, above the offer imprint of RM0.15 per half.NTB Chief Executive Officer, Crystal LaiThe Community has an guide library comprising over 37,000 printed novels in Bahasa Melayu and Bahasa Indonesia with an ecosystem comprising over 2.1 million users, of which roughly 10,000 are registered as writers and the comfort are readers.The platform operates beneath the title NovelPlus, with the hiss being accessed thru the Community’s cell utility and web browser. NovelPlus operates on a freemium model the place readers can access the platform without cost or pay a subscription rate to bask in an advertisement-free reading abilities.The NovelPlus platform enables readers to browse and desire e-books, personalise their abilities and field up their profile as well to work alongside with writers registered on the platform. For writers, the NovelPlus platform enables them to write, edit and self-post their serialized novels, construct readerships and receive opinions and tokens of appreciation from readers. Advertisers can moreover advertise on the cell utility and web browser, with the adverts targeted in direction of users who’re not subscribed.Chief Executive Officer of NTB, Crystal Lai, mentioned the Community is now within the next place to focal level on original industry growth and pursue future declare alternatives after the winning itemizing.”NovelPlus continues to innovate and evolve for the wishes of our users. Right here’s the initiating of an evolution for NovelPlus and we are in a position to proceed to obtain improvements that mirror our users’ wishes.”The Community’s plans encompass expanding the hiss of its library to encompass e-books printed in both Bahasa Melayu and Bahasa Indonesia as well to other languages from Southeast Asia, the place e-books bask in considered healthy declare from US$308.1 million (RM1.3 billion) in 2016 to US$382.9 million (RM1.6 billion) in 2019, which is a compound annual declare rate (“CAGR”) of 7.5%. Transferring forward, the guide market dimension may presumably also register CAGR of 6.4% between 2020 and 2022, to realize US$461.0 million (RM1.9 billion).TA Securities Holdings Berhad is the celebrated adviser, placement agent and continuing adviser for the itemizing exercise.Please contact the below for more records:Hakim JuraimiEmail: [email protected] Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

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