KUALA LUMPUR: Construction and engineering firm Lim Seong Hai Capital Bhd
(LSH Capital) is seeking to raise RM168.08mil through its listing transfer from the LEAP Market to the ACE Market.
The company will offer 191 million new shares to the public, priced at 88 sen per share.
Of this, 16.8 million shares will be made available for the Malaysian public, 12.6 million shares for eligible directors and employees, and 161.7 million shares for bumiputra investors approved by the Investment, Trade and Industry Ministry.
Upon listing, LSH Capital is expected to have a market capitalisation of RM737.8mil and an enlarged share capital of 838.4 million shares.
Non-executive chairman Tan Sri Lim Keng Cheng said the listing transfer is not just a financial milestone, rather a strategic move that will enable the company to expand its capabilities while strengthening its financial position.
“With the funds raised from this listing, we are planning to expand our construction and construction-related services and solutions order book.
“We are also aiming to expand into opportunities of infrastructure concession ownership to strengthen our presence in the industry,” he said.
According to Lim, the company’s robust order book, diversified revenue streams and commitment to innovation have given it the boost to navigate industry challenges and drive shareholder value.
“Our sights are set beyond the ACE Market, we aim for the Main Market, where we can scale our impact even further. This is just the beginning,” he said.
AmInvestment Bank Bhd has been appointed as its principal adviser, sponsor, sole underwriter and sole placement agent for its listing.
The bank’s chief executive officer Tracy Chen Wee Keng said the successful transfer from the LEAP Market to the ACE Market would be testament to LSH Capital’s strong fundamentals, growth trajectory and commitment to excellence.
“This transition not only enhances LSH Capital’s visibility in the capital market, but also paves the way for greater access to funding opportunities and investor participation.
“We congratulate LSH Capital on this remarkable achievement and look forward to supporting them as they embark on this next phase of growth.”
