From left: Ooi Guan Hoe, Independent Non-Executive Director of Semico Capital; Agnes Yap Choo Cheng, Independent Non-Executive Director; Ang Sew Fong, Executive Director and Head of Human Resources and Administration; Tai Lee Chuen, Executive Director and CEO; Datuk Sri Ramli Mohamed Yoosuf, Independent Non-Executive Chairman; Andrea Huong Jia Mei, Independent Non-Executive Director; Hanif Ghulam Mohammed, CEO of Affin Hwang Investment Bank; Johan Hashim, Managing Director of Capital Markets; and Arvin Chia, Head of Equity Capital Market.
PETALING JAYA: Semico Capital Bhd has opened on a high note in its debut on the ACE Market of Bursa Malaysia.
The arcade machine distributor’s shares opened at 45 sen yesterday, representing a premium of 80% over its issue price of 25 sen.
The stock reached as high as 49 sen before settling to close at 37.5 sen at 5pm.
The volume for the first listing of the year came in at 132 million shares for its first day of trading.
“The successful listing of Semico on the ACE Market of Bursa Malaysia marks a pivotal milestone for us,” said Tai Lee Chuen, the company’s executive director and chief executive officer, in a statement.
“Supported by the listing proceeds of RM23.2mil, we are well-positioned to accelerate our growth plans and pursue new opportunities within the family entertainment industry,” Tai added.
The company’s listing was oversubscribed by 28.1 times, reflecting strong investor confidence in the company’s business operations and prospects.
From the proceeds raised, Semico has allocated RM8.5mil for the purchase of new arcade and amusement machines, RM2.1mil for the replacement of the existing machines, and RM2.5mil for its toys and collectibles segment.
Semico intends to use RM1.6mil for the repayment of bank borrowings, while RM4mil is earmarked for working capital.
The remaining RM4.5mil will be used to defray listing expenses.
“We plan to expand our arcade and amusement machine fleet, with proceeds allocated for the acquisition of 188 new machines and replacement of 55 machines, complementing the existing base of 650 machines nationwide.
“We will also broaden our toys and collectibles portfolio, building on the established range of 68 brands by introducing new merchandise featuring popular intellectual property and characters.”
In the toys and collectables segment, the group distributes collectibles and toys from companies such as Pop Mart, Funism, Jotoys and ToyCity.
The company said the initiatives are expected to strengthen customer engagement, ensuring the company’s ability to deliver relevant and in-demand products within a growing market.
