UMS Integration becomes first SGX company with secondary listing in Malaysia
Shares of the precision engineering firm began trading on the main market of Bursa Malaysia at RM5.15 on Aug 1, up from its listing price of RM5.
SINGAPORE - UMS Holdings has become the first Singapore Exchange mainboard company to secure a secondary listing on Bursa Malaysia, marking a milestone for cross-border listings in the region.
Shares of the precision engineering firm began trading on the main market of Bursa Malaysia at RM5.15 on Aug 1, up from its listing price of RM5.
Some 6.1 million shares changed hands, compared with the 10 million shares listed on the exchange by way of introduction. No funds were raised for the company or its current shareholders.
The stock closed at RM5.50 apiece, giving a market capitalisation of RM3.9 billion (S$1.19 billion ) . It was also among the top gainers on the Malaysia stock exchange on Aug 1.
UMS shares closed Aug 1 at $1.53 on SGX. The stock has risen by more than 45 per cent since the start of the year, taking its market capitalisation north of $1 billion.
UMS makes components and modules for manufacturers of semiconductor and aerospace equipment, as well as factory automation equipment.
In 2024, it expanded its manufacturing capabilities with the acquisition of 235,000 sq ft of leasehold industrial land in Penang, Malaysia, for RM15.2 million.
In a statement, chief executive Andy Luong noted that the company's secondary listing in Malaysia will allow it to broaden its investor base, improve trading liquidity via separate trading platforms, and provide flexibility for it to access different equity markets for future fund-raising.
Mr Luong added that opportunities are emerging for the company to produce high-precision components for advanced packaging solutions.
'UMS is moving up the semiconductor value chain. We aim to expand our role and deliver higher-value precision components to our customers,' he said in the statement.
UMS was not the only semicondutor-related firm looking to list in Malaysia.
The company's SGX-listed peer, Grand Venture Technologies (GVT), had announced plans in September 2024 to pursue a secondary listing on Bursa Malaysia. It received approval from the Securities Commission Malaysia for the proposed listing in March.
However, GVT has since received an offer from Dutch firm Aalberts Advanced Mechatronics to privatise the company for 94 cents a share, or a total of $318.9 million.
Shareholders who collectively hold 64.24 per cent of GVT's total shares have given the offeror irrevocable undertakings to vote in favour of the scheme, the companies said on July 10.
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