ASX-listed OMH to transfer 10mil shares for Bursa listing

KUALA LUMPUR: Australian Stock Exchange (ASX)-listed OM Holdings Ltd (OMH) will transfer 10 million shares to Bursa Securities for trading following a secondary listing scheduled on June 22.

OHM executive chairman and CEO Low Ngee Tong said in a statement today that he and other notable shareholders of the company will transfer an aggregate of at least 10 million OMH shares, representing 1.35% of the total number of issued shares from ASX to Bursa Malaysia for trading on the tentative listing date.

"Through the Secondary Listing, we aim to broaden our investor reach and widen our investor base, and potentially increase the liquidity of our shares through separate trading platforms.

"It will enable us to tap into additional platforms for future fundraising and provide us with the flexibility to access different equity markets to raise funds," he said.

He added that the group could potentially undertake fundraising from the Malaysian capital markets after the secondary listing and channel the funds towards expanding its Sarawak Plant.

The listing on Bursa Securities will not involve the issuance of new shares and will be undertaken by way of introduction.

OMH's shares will be fully fungible between the two exchanges whereby shareholders will be able to transfer their shares to either exchange for trading.

The group's will keep its principal listing on the ASX, where it has been publicly traded since 1998.

OMH Group undertakes upstream operations involving exploration and mining of manganese ore, and downstream activities of smelting and trading of manganese ore and processed ferroalloys.

The group’s manganese ore mining operations are based in the Bootu Creek Mine, Northern Territory of Australia.

It also owns a 13% effective stake in the Tshipi Borwa manganese mine in South Africa.

The group operates ferroalloy smelters and manganese sintering facilities in Sarawak, Malaysia, via a joint venture with Samalaju Industries Sdn Bhd, a subsidiary of Cahya Mata Sarawak Bhd, and in Qinzhou, China.

Logistics, marketing, and trading activities are carried out at its primary distribution hub in Singapore.
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