KUALA LUMPUR, Dec 16, 2021 – (ACN Newswire) – Aurelius Technologies Berhad (“ATech” or the “Company”), a provider of electronics manufacturing services (“EMS”) for industrial electronic products, was successfully listed on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) at RM1.41 per share, or RM0.05 above the offer price of RM1.36 per share.
Thanking the Securities Commission, Bursa Securities, Maybank Investment Bank Berhad and other professionals for their guidance and advice on the initial public offering (“IPO”) exercise, Chairman of ATech Datin Normaliza binti Kairon (“Datin Normaliza”) said, “I would also like to express my heartfelt gratitude to the investors who have trusted us and have confidence in our business as a leading provider of electronic manufacturing services in Malaysia for manufacturing of industrial electronics products since day one. We are gratified by the response of investors to our listing and we are very pleased with our debut on the Main Market today”.
“We believe this listing will give us the visibility that we need to leverage the expansion of the business, to retain and attract more customers from across Asia Pacific, the Americas and Europe. We see this listing also giving us the opportunity to realise our future plans and strategies, including expansion and upgrading of our production facilities”.
The Company is raising RM104.73 million from the IPO exercise. From the proceeds, RM40.0 million would be used for the purchase of new machinery and equipment, RM29.52 million for the repayment of borrowings, RM28.13 million for working capital and RM7.09 million for the listing expenses.
Datin Normaliza pledged that ATech will continue creating value through focusing on environmental, social and governance (“ESG”) matters. “Besides technology adoption, we also want to create value through focusing on ESG by having sustainable practices. We have since 2004 have had our environmental management system ISO-certified and we endeavour to become the top electronics manufacturing services provider with green credentials”.
ATech offers a comprehensive range of EMS to multinational corporations across 11 countries covering Asia Pacific, Americas and Europe. These services include engineering support services, prototyping, board assembly, mechanical assembly, testing and labelling for communications and Internet of Things (“IoT”), electronic devices and semiconductor component products used by the transportation, power management, telecommunications and IoT industries.
For the financial year ended 31 January 2021, communications and IoT products contributed 89.5% to the Company’s revenue, with electronic devices contributing 9.4% and semiconductor components contributing less than 1%. The top three countries by revenue contribution for FYE19 to FYE21 were the USA, Malaysia and Singapore, which collectively accounted for 93.6%, 92.7%, and 89.3% of revenue.
Maybank Investment Bank Berhad is the Principal Adviser, Sole Bookrunner and Sole Underwriter.
Pictured (from left):
– Mr. Loh Hock Chiang, Executive Director and Group Chief Financial Officer
– Mr. Lee Chong Yeow, Executive Director and Group Chief Executive Officer
– Datin Normaliza Binti Kairon, Chairperson and Independent Non-Executive Director
– Dato’ Fad’l Mohamed, Chief Executive Officer of Maybank Investment Bank Berhad
Source: Aurelius Technologies Berhad
Sectors: Daily Finance, Local Biz
From the Asia Corporate News Network
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