PETALING JAYA: Cape EMS Bhd has obtained the approval from Securities Commission (SC) to list on the Main Market of Bursa Malaysia.
Its initial public offering (IPO) entails 259.7 million shares comprising a public issue of 173 million new shares and an offer for sale of 86.7 million existing shares.
Of the retail offering of 54.2 million new shares, representing 5.8% of the total enlarged issued share capital of 923 million shares, 46.2 million new shares will be made available for application by the Malaysian public, of which 23.1 million new shares are reserved for application by Bumiputera public investors. Another eight million new shares will be made available for application by eligible directors, employees, and persons who have contributed to the success of the group.
Of the institutional offering of 205.5 million shares, representing 22.3% of the total enlarged issued share capital of 923 million shares, 28.8 million new shares will be made available for bumiputera investors approved by the Ministry of International Trade and Industry (Miti) and 90 million new shares will be allocated to other institutional and selected investors. Another 86.7 million existing shares will be made available to bumiputera investors approved by Miti.
“We are delighted to announce that we have received approval from SC for our listing on the Main Market of Bursa Securities. We are principally involved in the EMS industry where we provide end to end manufacturing services for box build industrial electronic products and consumer electronic products, which accounted for 62.3% and 26.6% of revenue respectively, in 2021,“ said Cape EMS’s managing director and group CEO Christina Tee Kim Chin.
She said Cape EMS has a strong track record of growth and will continue to focus on its core competency in providing EMS of electronic products supported by our aluminium die cast manufacturing, sourcing and procurement capabilities.
The export value of electrical and electronic products is targeted to grow from RM386.1 billion in 2020 to RM495 billion in 2025, according to Vital Factor Consulting Sdn Bhd’s independent market research report.
Cape EMS said it has been growing its business globally, particularly in the United States where revenue contributions have increased from 25.1% of total revenue in 2019 to 55.3% of total revenue in 2021.
Hong Leong Investment Bank Bhd is the principal adviser, joint bookrunner and joint underwriter to the company in connection with the IPO and listing. AmInvestment Bank Bhd is the joint bookrunner and joint underwriter to the company in connection with the IPO.
