KUALA LUMPUR: Aurelius Technologies Bhd (ATech) shares oversubscribed by 20.27 times ahead of the company's listing on the main market of Bursa Malaysia.
Executive director and group chief executive officer Lee Chong Yeow said investors are confident of ATech's business prospects and future plans.
"Our journey is to be a one-stop solution for electronics manufacturing services (EMS) provider has come a long way and has finally come to fruition," he said in a statement today.
"As an EMS provider, we are encouraged by the overwhelming response to the initial public offering (IPO) as it indicates that the market sentiment is positive for economic growth momentum to continue, which is important for the overall outlook of the electrical and electronics industry," he said.
ATech is raising RM104.73 million from the IPO exercise.
From the proceeds, the company will use RM40.0 million to purchase 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.
"As we look towards the future, the expansion plan will give a boost to the growth of the company's business.
"This is also part of the strategy to increase our semiconductor component manufacturing and the upgrading of our manufacturing facilities with Industry 4.0 technologies," Lee said.
Maybank Investment Bank Bhd is the principal adviser for the IPO, sole bookrunner and sole underwriter.
ATech's listing on Bursa Malaysia is scheduled for 16 December 2021.