CAPE EMS has obtained the approval from Securities Commission Malaysia (SC) to list on the Main Market of Bursa Securities.
The group is principally involved in electronic manufacturing services (EMS), aluminium die casting, and supply of electronic products and related activities.
“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. Serving customers in both sectors provides us with 2 pillars of business growth and diversification,” Cape EMS’s Managing Director/Group Chief Executive Officer Christina Tee Kim Chin said.
In conjunction with its listing, Cape EMS’s initial public offering (“IPO”) of 259.7 million comprises of a public issue of 173.0 million new shares and an offer for sale of 86.7 million existing shares.
The shares will be offered to retail and institutional segments.
For Retail Offering of 54.2 million new shares, representing 5.8% of the total enlarged issued share capital of 923.0 million shares. 46.2 million new shares (constituting 26.7% of the 173.0 million new shares) will be made available for application by the Malaysian public, of which 23.1 million new shares (constituting 13.4% of the 173.0 million new shares) are reserved for application by Bumiputera public investors. While 8.0 million new shares (constituting 4.6% of the 173.0 million new shares) will be made available for application by eligible directors, employees, and persons who have contributed to the success of the Group.
For the portion of Institutional Offering with 205.5 million shares, representing 22.3% of the total enlarged issued share capital of 923.0 million shares. 28.8 million new shares (constituting 16.7% of the 173.0 million new shares) will be made available for Bumiputera investors approved by the Ministry of International Trade and Industry (MITI). 90.0 million new shares (constituting 52.0% of the 173.0 million new shares) will be allocated to other institutional and selected investors. 86.7 million existing shares will be made available to Bumiputera investors approved by MITI.
“Cape EMS has a strong track record of growth and we will continue to focus on our core competency in providing EMS of electronic products supported by 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 RM495.0 billion in 2025 according to Vital Factor Consulting’s independent market research report. With that said, we have been growing our business globally particularly in the United States of America where revenue contributions have increased from 25.1% of total revenue in 2019 to 55.3% of total revenue in 2021,” she added
“The approval to list on the Main Market of Bursa Securities brings us one step closer to becoming a public listed entity on Bursa Securities and propels us on our next phase of growth,” she remarked
Hong Leong Investment Bank is appointed as the Principal Adviser, Joint Bookrunner and Joint Underwriter to the Company in connection with the IPO and listing.
Meanwhile, AmInvestment Bank Berhad is the Joint Bookrunner and Joint Underwriter to the Company in connection with the IPO.
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