KUALA LUMPUR: The share price of THMY Holdings Bhd
, a Penang-based test solutions engineering provider, nearly triples on its ACE Market debut.
The company saw its stock closing at 91 sen, some 194% higher than its initial public offering (IPO) price of 31 sen a share.
The stock opened at 80 sen, representing a 158.1% premium on a volume of 46.3 million shares.
THMY provides automated test solutions for electrical and electronics (E&E) products.
Executive director and chief executive officer Ooi Can Nix told a press conference following its listing ceremony yesterday that he is optimistic about the rise of artificial intelligence (AI) and data centres which will bring the company increased growth opportunities.
“We have a couple of good multinational companies as clients in these rapidly growing segments.
“AI and data centres are linked to a wide number of sectors, so we expect that the growth from these industries will be a benefit to the company.”
The group is well-positioned to tap into the global wave of E&E growth, which has been spurred by the expansion of AI and data centres.
On another note, Ooi said the group has no current plans for a dividend policy.
“We are still strongly focused on growing the business, so dividends are not a significant consideration right now,” he added.
THMY’s automated test solutions comprise in-circuit test and functional circuit test for E&E products that serve end-user industries such as technology, telecommunications, semiconductors, industrial automation, and healthcare.
Prior to its listing, THMY saw its IPO oversubscribed by 35.57 times, raising RM44.6mil through the public issue.
“We will unlock new opportunities with the construction of our new factory to expand our production capacity and enhance our technological capabilities through strategic investments in machinery, research and innovation,” Ooi said.
“With the success of the listing, our whole team is driven to maintain this momentum so that we can grow to the next level.”
Chief among the allocation plans for the raised capital is RM25.9mil for the construction of its second factory in Batu Kawan, Penang inclusive of the partial purchase of new industrial land.
Ooi added that the company has set internal strategies to expand its existing production facility to accommodate the surge in demand for its solutions.
“Our existing factory is running at nearly 85% utilisation, so with strong planning and a reorganised layout, we definitely have room to increase,” he said.
Additionally, RM5.2mil will be set aside for repayment of bank borrowings, and RM3.7mil will be used for purchase of new machinery and equipment.
A total of RM3.1mil is allocated for working capital, while RM1.9mil will be used for expenditure on design and development as well as research and development.
“We are confident that these strategic initiatives will strengthen THMY’s market positioning, thereby creating long-term value for our shareholders and enable us to capture new opportunities in both domestic and regional markets,” Ooi said.
For its first quarter ended 30 June 2025, THMY posted a revenue of RM14.2mil and a net profit of RM3mil.
