OMH GETS READY FOR SECONDARY LISTING
CEO, notable shareholders to transfer at least 10m shares from ASX to Main Market
OM Holdings Ltd (OMH) has launched its prospectus for a secondary listing on the Main Market of Bursa Securities Malaysia Bhd.
The company’s principal listing is on the Australian Securities Exchange (ASX), where it has been publicly traded since 1998 and remains its primary stock exchange.
OMH executive chairman and chief executive officer Low Ngee Tong said he would, and would procure other notable shareholders, to transfer at least 10 million shares from ASX to Bursa Securities.
This represents 1.35 per cent of the company’s total number of its issued shares.
“Through the secondary listing, we aim to broaden our investor reach and increase the liquidity of our shares through separate trading platforms.
“It will enable us to tap more platforms for future fundraising
and provide us access to equity markets to raise funds.
“We may undertake fundraising from the Malaysian capital markets after the secondary listing and channel the funds towards expanding our Sarawak plant,” he said at a virtual press conference in conjunction with OMH’s prospectus launch yesterday.
In a filing to Bursa Malaysia, the vertically integrated manganese
ore and ferroalloy producer has set out the timeline for its secondary listing, with a tentative listing date of June 22.
The company, via its subsidiaries and associates, covers the upstream operations involving exploration and mining of manganese ore and downstream activities of smelting and trading manganese ore and processed ferroalloys.
Its manganese ore mining operations
are in the Bootu Creek Mine, Australia.
OMH also owns a 13 per cent effective stake in the Tshipi Borwa manganese mine in South Africa.
It also operates ferroalloy smelters and manganese sintering facilities in Sarawak via a joint venture with Samalaju Industries Sdn Bhd, a Cahya Mata Sarawak Bhd subsidiary, and in Qinzhou, China.