PETALING JAYA: Semico Capital Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of family entertainment products and services encompassing the supply of arcade and amusement machines, the operation and management of a family entertainment centre as well as the wholesale and distribution of toys and collectables.
In its prospectus exposure, Semico said its initial public offering (IPO) will comprise a public issue of 92.67 million new ordinary shares.
Of this, 18 million shares will be made available for application by the Malaysian public, while 14.996 million shares will be made available for application by the eligible directors and employees, as well as business associates who have contributed to the success of Semico Capital and its subsidiaries.
Additionally, 59.67 million shares will be made available by way of private placement to selected investors, while an offer for sale of 18 million shares will be available by way of private placement to selected investors.
Semico said the proceeds from its IPO will be used for the purchase of new arcade and amusement machines, as well as toys and collectables.
Additionally, proceeds will be utilised for the repayment of bank borrowings, working capital and estimated listing expenses.
“To continue growing our family entertainment products and services, in particular our arcade and amusement machine supply business, we intend to purchase more arcade and amusement machines to cater for anticipated increase in demand from our existing customers.”
Semico said it has a total of 603 arcade and amusement machines, of which 105 are more than five years old and fully depreciated.
“In line with our group’s commitment to maintaining high-quality entertainment offerings and enhancing customer experience, we intend to systematically upgrade or replace ageing machines with newer, more advanced models that offer improved gameplay, reliability and appeal.
“By regularly updating our arcade and amusement machine mix, we can keep our arcade and amusement machine offerings fresh and engaging for our customers.”
Affin Hwang Investment Bank Bhd is the sponsor for the company’s IPO.
