Cape EMS gets SC nod to list on Main Market of Bursa Malaysia

KUALA LUMPUR: Cape EMS Bhd today announced it has obtained the approval from the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia Securities Bhd.

The group, which is principally involved in electronic manufacturing services (EMS), aluminium die casting, and supply of electronic products, is offering 259.7 million shares under its initial public offering (IPO).

This comprises a public issue of 173.0 million new shares and an offer for sale of 86.7 million existing shares.

Out of the public issue, 54.2 million new shares are for retail offering, of which 46.2 million shares will be made available for application by the Malaysian public, while 8.0 million shares have been reserved for eligible directors, employees, and persons who have contributed to the success of the Group.

Another 205.5 million shares have been allocated under institutional offering, out of which 86.7 million existing shares will be made available to approved Bumiputera investors.

Cape EMS managing director and group chief executive officer Christina Tee Kim Chin said the group provides end-to-end manufacturing services for box build industrial electronic products and consumer electronic products, which accounted for 62.3 per cent and 26.6 per cent of its revenue respectively in 2021.

"The export value of electrical and electronic products is targeted to grow from RM386.1 billion in 2020 to RM495.0 billion in 2025, according to Vital Factor Consulting Sdn Bhd’s independent market research report.

"In line with that, we have been growing our business globally particularly in the United States where revenue contributions have increased from 25.1 per cent of total revenue in 2019 to 55.3 per cent of total revenue in 2021," she said in a statement today.

According to the statement, Hong Leong Investment Bank Bhd is the principal adviser, joint bookrunner and joint underwriter to the company relating to the IPO and listing.

AmInvestment Bank Bhd is the joint bookrunner and joint underwriter to the company in connection with the IPO. - Bernama

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Cape EMS , SC , Main Market , Bursa Malaysia , IPO


Next In Business News

US economy grew slightly, inflation and rates cloud outlook
Wall St preps for year-end stock rally
Loan demand to buoy Malaysia banking sector
Asia factory activity shrinks on lockdowns
Greener textile and garment industry in Vietnam by 2030
Wages in Singapore up despite inflation
Aussie business investment dips in third quarter
Goldman, Commonwealth Bank at odds over rate outlook
Wall St analysts turn more bullish on Tesla
New York MTA faces US$3bil hole in 2025

Others Also Read