(From left) LSH Capital non-independent managing director (machinery, hardware and tools division) Lim Keng Hun, non-independent executive vice chairman Datuk Lim Keng Guan, mother of the Lim siblings Lee Ai, Keng Cheng, non-independent group managing director Lim Pak Lian and non-independent executive director Lim Ding Shyong posing for a group photo in Kuala Lumpur after LSH Capital successfully transferred to the ACE Market of Bursa Malaysia.
KUALA LUMPUR: Lim Seong Hai Capital Bhd (LSH Capital) marks a significant milestone with its successful transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia.
The listing ceremony, held here signifies the group’s commitment to growth, brand visibility, and enhanced investor accessibility.
On the opening bell, LSH Capital’s shares opened with a share price of RM0.73, with an opening volume of 2,810,300 shares.
The opening price marks a 17% discount to the public offering price of RM0.88. Ten minutes into trading, the share price increased to match the RM0.88 public offering price.
Earlier this month, LSH Capital announced that the public portion of the public offering was oversubscribed by 11.88 times, reflecting investor confidence in LSH Capital’s business fundamentals, strong financial performance and long-term growth prospects.
The public offering, raising approximately RM116.2mil, will be strategically deployed to fund the company’s working capital for ongoing and upcoming construction and property development projects.
LSH Capital non-executive chairman Tan Sri Lim Keng Cheng said, "Today is a historic moment for LSH Capital as we begin a new chapter with our listing on the ACE Market of Bursa Malaysia.
“From our humble beginnings, built on perseverance and hard work, we have grown into a strong and reputable player in the construction sector.
"This milestone is a testament to the dedication of our team, the trust of our clients and the unwavering support of our partners and investors.”
He added, “As we move forward, we remain committed to sustainable growth, driving innovation and delivering value to all stakeholders.
“This listing is not the destination but the beginning of a bigger journey. With immense opportunities ahead, we will continue building a stronger, more resilient and future-ready LSH Capital.”
Commenting on the opening price of LSH Capital, Lim said: “Every challenge is a marathon, not a sprint and while market reactions may fluctuate in the short term, LSH Capital remains confident in its long-term prospects.
“Our strong fundamentals, demonstrated by securing the 20-year KL Tower concession and achieving a 19% year-on-year earnings growth, reinforce our ability to execute and deliver value.
“We deeply appreciate the continued support of our investors and stakeholders and while market sentiment may vary, we are confident that our strategic achievements and consistent performance will ultimately drive sustained growth and value creation.”
LSH Capital is well-positioned in the construction and property development industries, with active plans to continue to build up the tender book and orderbook.
The company has recently entered into the facilities management segment, after securing a 20-year concession contract to exclusively operate, manage and maintain the Kuala Lumpur Tower.
The new segment will provide LSH Capital with a steady and recurring income.
LSH Capital is also actively exploring potential infrastructure construction projects and concession ownership opportunities to further strengthen its business growth.
