MiE Holdings seeks listing on Main Market

PETALING JAYA: Mi Equipment Holdings Bhd (MiE Holdings) plans to list its shares on the Main Market of Bursa Malaysia Securities Bhd in 2018.

In a draft prospectus exposure with the Securities Commission, MiE Holdings said its initial public offering (IPO) will entail the issuance of 134.43 million shares, of which 25 million shares will be available for application by the Malaysian public.

MiE Holdings’ principal activity is investment holding, whilst the group is principally involved in the design, development, manufacture and sale of wafer level chip scale packaging sorting machines with inspection and testing capabilities for the semiconductor industry.

It is also involved in the provision of maintenance services and technical support for these machines, as well as the sale of related spare parts and components.

The proceeds from the IPO will be used for the construction of new factories cum offices in Batu Kawan and Bayan Lepas, Penang, as well as for research and development.

“We plan to introduce new assembly and packaging machines into our product line-up. We intend to relocate our existing operations to the Bayan Lepas factory to increase our production capacity as well as to manufacture precision fabricated parts to complement and support our existing business. We plan to set up our Batu Kawan factory to cater for future increase in our production capacity,” MiE Holdings said.