KUALA LUMPUR (Aug 19): Building facade specialist Uni Wall APS Holdings Bhd (KL:UNIWALL) has proposed to transfer its listing from the LEAP Market to the ACE Market of Bursa Malaysia, in a move aimed at broadening investor participation and enhancing fundraising opportunities.
To facilitate the transfer of listing, Uni Wall will voluntarily withdraw from the LEAP Market and seek a listing and quotation for its entire issued share capital on the ACE Market.
The company intends to undertake a public offering of new shares and/or an offer for sale of existing shares held by its major shareholders, with details such as quantum, issue price and investor groupings to be determined later.
As at July 18, 2025, Uni Wall’s issued share capital stood at RM15.06 million, comprising 731.4 million shares.
In a bourse filing on Tuesday, the company said the transfer of listing will provide access to a wider pool of retail and institutional investors, improve the liquidity and marketability of its shares, and support its long-term growth plans.
“The proposed transfer of listing will further enhance the company’s credibility and reputation and accord it with greater recognition from various stakeholders,” Uni Wall noted.
The company added that the proposed offering will enable it to raise fresh capital and to meet public shareholding spread requirements.
The exercise is conditional upon approvals from Uni Wall shareholders at an extraordinary general meeting to be held in the fourth quarter of 2025, as well as Bursa Securities, the Securities Commission Malaysia, and the Ministry of Investment, Trade and Industry for Bumiputera share allocations.
Applications to the regulators are expected in the first quarter of 2026, with the transfer targeted for completion by the third quarter of 2026.
Earlier this month, the company said it had received a proposal from its major shareholders — Hysiow Holdings Sdn Bhd, executive chairman Siow Hon Yong and chief executive officer Siow Hon Yuen — to undertake the transfer. Both Siow brothers collectively control 87.5% of Uni Wall through Hysiow.
On Tuesday, Uni Wall said the board, excluding the Siow brothers as the proposing directors, has deliberated on the proposal and resolved to proceed with the transfer exercise, subject to approvals from shareholders, regulators and relevant authorities.
Uni Wall, which debuted on the LEAP Market in January 2019 at an initial public offering price of 16 sen per share, posted a net profit of RM3.72 million on revenue of RM5.32 million for the six months ended Dec 31, 2024.
The company said in its financial results report in February that its future plans centre on expanding its presence in the local building facade industry, scaling up its factory facilities for higher fabrication capacity, and growing into the upstream and downstream business.
Shares of Uni Wall were not traded on Tuesday. It last closed at 49 sen, valuing the company at RM358.38 million.