GEORGE TOWN: Antenna manufacturing service provider Emits Bhd aims to raise RM15 million from its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd on Dec 1.
The company, which is headquartered in Bayan Lepas, launched its prospectus today. Its IPO comprises a public issue of 93.75 million new ordinary shares priced at 16 sen apiece, alongside an offer for sale of 37.50 million existing shares.
In a statement, Group managing director Loy Boon Liang said the listing would enhance the company's corporate profile and strengthen its ability to establish business relationships with larger multinational customers.
He said the proceeds from the IPO would provide additional working capital to support new projects, particularly the manufacturing of 5G base station antennas, while also strengthening the group's research and development (R&D) capabilities.
"As part of our long-term growth strategy, we have invested in and set up four new production lines at our Penang factory dedicated to producing 5G base station antennas.
"Leveraging on our investment in 5G base station antenna manufacturing capabilities, we see opportunities to scale our revenue by diversifying our product offerings and positioning our group for the next phase of growth," he said.
Of the RM15 million proceeds, RM6.8 million will be allocated for working capital, including RM6 million to support new projects and RM800,000 for general working capital requirements.
Another RM4 million will be used to purchase machinery and equipment for R&D activities, while the remaining RM4.2 million will go towards listing expenses.
Emits, through its subsidiaries, is an original equipment manufacturer (OEM) specialising in end-to-end antenna manufacturing services, covering design, production, assembly and testing.
The group operates a manufacturing facility in the Bayan Lepas Free Industrial Zone, supported by an outsourced assembly and testing line in Taiwan, and serves local and international customers, mainly multinational corporations, with the United States as its key overseas market.
For the financial year ended Dec 31, 2025, the company recorded a revenue of RM39.6 million compared with RM32.0 million in 2023, while profit after tax more than doubled to RM5.2 million from RM2.2 million over the same period.
Meanwhile, the global passive antenna industry is projected to grow from US$4.8 billion (US$1=RM4.04) in 2025 to US$5.7 billion by 2028, driven by demand from the telecommunications, automotive, consumer electronics, aerospace and defence sectors.
Emits is expected to have a market capitalisation of RM75 million upon listing, based on its IPO price of 16 sen per share. - Bernama
