KUALA LUMPUR: Aluminium supplier, AMS Advanced Material Bhd (AMSB), has received approval for its listing on the ACE Market of Bursa Malaysia Securities Bhd.
Its managing director, Keh Teng Yang said the approval marks an important milestone in the group’s journey towards becoming a public-listed company.
"With nearly two decades of experience in supplying and processing semi-finished aluminium and copper products, we remain optimistic about the long-term prospects of the industry, as aluminium continues to gain wider adoption across numerous sectors.
"The IPO will enable us to access the equity capital market to accelerate our expansion plans and unlock new growth opportunities as we enter our next phase of growth,” he said in a statement today.
According to the statement, AMSB’s proposed initial public offering (IPO) comprises a public issue of 113 million new shares and an offer for sale of 47 million existing shares, representing approximately 18.46 per cent and 7.68 per cent of the group’s enlarged share capital of 612.01 million shares, respectively.
"Of these 160 million shares, 50.74 million shares will be offered via private placement to selected investors, while 76.50 million shares will be allocated through private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
"Another 30.60 million shares will be made available to the Malaysian public, with the remaining 2.16 million shares reserved for application by eligible directors and employees,” it said.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for this IPO exercise. - Bernama
