Cape EMS gets SC nod to list on Main Market

LUMPUR: Cape EMS Bhd has obtained the approval from the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia Securities Bhd.

The group, which is principally involved in electronic manufacturing services (EMS), aluminium die casting, and supply of electronic products, is offering 259.7 million shares under its initial public offering (IPO).

This comprises a public issue of 173.0 million new shares and an offer for sale of 86.7 million existing shares.

Out of the public issue, 54.2 million new shares are for retail offering, of which 46.2 million shares will be made available for application by the Malaysian public, while 8.0 million shares have been reserved for eligible directors, employees, and persons who have contributed to the success of the group.

Another 205.5 million shares have been allocated under institutional offering, out of which 86.7 million existing shares will be made available to approved Bumiputera investors.

Cape EMS managing director and group chief executive officer Christina Tee Kim Chin said the group provides end-toend manufacturing services for box build industrial electronic products and consumer electronic products, which accounted for 62.3 per cent and 26.6 per cent of its revenue respectively in 2021.

“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 Sdn Bhd’s independent market research report.

“In line with that, we have been growing our business globally particularly in the United States where revenue contributions have increased from 25.1 per cent of total revenue in 2019 to 55.3 per cent of total revenue in 2021,” she said in a statement.

According to the statement, Hong Leong Investment Bank Bhd is the principal adviser, joint bookrunner and joint underwriter to the company relating to the IPO and listing.

AmInvestment Bank Bhd is the joint bookrunner and joint underwriter to the company in connection with the IPO. — Bernama