Latest news with #KamalamKurupKrishnan
The Star
29-05-2025
- Business
- The Star
ASM Automation aims to raise RM22mil from listing on ACE Market
From left: Kamalam Kurup Krishnan, executive director, ASM Automation Group; Tengku Faizwa Tengku Razif, independent non-executive chairperson; Leong Weng Khin executive director; Chan Kok Heng, managing director; Datuk Bill Tan, managing director, M&A Equity Holdings Bhd; Gary Ting, head of corporate finance, M&A Securities; Danny Wong, deputy head of corporate finance; and Kelvin Khoo, managing director, Eco Asia Capital Advisory Sdn Bhd KUALA LUMPUR: Automation machinery solutions specialist ASM Automation Group Bhd aims to raise RM21.82 million through its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia on July 2. In a statement yesterday, ASM Automation said the IPO involves the public issue of 128.34 million new shares, representing 24% of its enlarged share capital of 534.77 million shares. It said there will be an offer for sale of 53.48 million existing shares, equivalent to 10% of the enlarged share capital. IPO shares will be issued at an IPO price of RM0.17 per share. ASM Automation said RM11.40mil will be utilised for the construction of a new factory, RM2.30mil for the purchase of machinery, and the acquisition of equipment and components for demonstration machinery to support operational growth and customer engagement, RM2mil to enhance research and development capabilities, RM1.92mil for working capital to support day-to-day operations and RM4.2mil for listing expenses. The company's managing director Chan Kok Heng said the IPO proceeds will fuel the company's next phase of expansion. He said the IPO would not only provide the funding required for its expansion plans but also enhance its visibility and credibility as a publicly listed automation machinery solutions provider. M&A Securities is the IPO's principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. — Bernama
The Star
29-05-2025
- Business
- The Star
ACE Market-bound ASM Automation targets RM21.82mil proceeds from IPO
From left: Kamalam Kurup Krishnan, executive director, ASM Automation Group; Tengku Faizwa Tengku Razif, independent non-executive chairperson; Leong Weng Khin executive director; Chan Kok Heng, managing director; Datuk Bill Tan, managing director, M&A Equity Holdings Bhd; Gary Ting, head of corporate finance, M&A Securities; Danny Wong, deputy head of corporate finance; and Kelvin Khoo, managing director, Eco Asia Capital Advisory Sdn Bhd KUALA LUMPUR: Automation machinery solutions specialist ASM Automation Group Bhd aims to raise gross proceeds of RM21.82mil from its initial public offering (IPO), en route to a listing on the ACE Market of Bursa Malaysia. With the funds pegged for business expansion, the group said it will issue 128.34 million new shares, or 24% of its enlarged issued share capital of 534.77 million shares, at an issue price of 17 sen each. The IPO will also include an offer for sale of 53.48 million existing shares, or 10% of its enlarged issued share capital. At the launch of its IPO prospectus, ASM said RM11.4mil of the funds will be pegged for the acquisition of land and the construction of a new factory to increase production and assembly capacity. RM2.3mil will go towards purchasing machines and equipment and components for the assembly of demonstration machineries to support operational growth and customer engagement, and another RM2mil for design and development activities to enhance research and development activities. Of the remainder, RM1.92mil will be used for working capital and RM4.2mil to defray listing expenses. ASM managing director Chan Kok Heng said the company, having grown from a local custom automation outfit to a trusted name in the automation machinery solutions industry, is poised to deepen its technical capabilities and extend its market reach. "The IPO will not only provide the funding required for our expansion plans but also enhance our visibility and credibility as a public-listed automation machinery solutions provider. "With these resources, we aim to scale our innovation, manufacturing capacity, and export footprint to deliver even greater value to our customers," he said. M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO while Eco Asia Capital Advisory Sdn Bhd is the financial adviser.
