Amlex plans Bursa Securities’ LEAP listing this month

KUALA LUMPUR: Amlex Holdings Bhd plans to list on Bursa Malaysia Securities Bhd’s LEAP Market this month and raise RM6.03 million in gross proceeds via a private placement to sophisticated investors.

Co-founder and managing director Lim Say Soon said the fund raising and proposed listing involved a placement of 40.2 million shares in Amlex, which represents 15 per cent of the enlarged share capital, at an indicative price of RM0.15 per share.

Upon listing, the market capitalisation of Amlex will be RM40.2 million.

“Upon listing, the market capitalisation of Amlex will be RM40.2 million,” he said in a statement yesterday.

Amlex plans to utilise RM3.2 million (53 per cent) of the proceeds raised as capital expenditure to set up and build a new in-house designed rack plating machine and an additional reel-to-reel electroplating plating machine, testing and quality assurance equipment, as well as facility upgrade.

“We will utilise RM1.03 million (17.1 per cent) for general working capital requirements, RM800,000 (13.3 per cent) for research and development.

“The remaining RM1.0 million (16.6 per cent) would be used for the listing expenses,” Amlex said.

Lim Say Soon, Co-founder and managing director