KUALA LUMPUR (July 31): UMS Integration Ltd (KL:UMSINT), set to debut on Bursa Malaysia on Aug 1, said its listing reference price has been set at RM5.
According to its bourse filing, the reference price was derived from UMS Integration’s closing share price of S$1.52 on the Singapore Exchange (SGX) as of July 31, multiplied by the exchange rate of 3.291 ringgit per Singapore dollar, based on data from Bank Negara Malaysia.
UMS Integration’s will be the first company on the SGX to feature a secondary listing on Bursa Malaysia. The shares will be fully fungible, allowing investors to freely transfer their holdings between the two exchanges for trading purposes. UMS Integration’s market capitalisation, based on its last close, stood at S$1.08 billion (RM3.55 billion).
The listing will be carried out by way of introduction, rather than through an initial public offering, meaning no new funds will be raised by the company or its existing shareholders. UMS Integration chief executive officer Luong Andy will make 10 million shares available for trading on Bursa Malaysia.
UMS Integration is an integrated high-precision engineering and manufacturing firm, providing services such as precision machining, sheet metal fabrication, surface treatment, and both sub-module and full-module assembly for the semiconductor and aerospace industries.
TA Securities is the principal adviser, while CGS International is the financial adviser for the secondary listing.