KUALA LUMPUR (Dec 24): Packaging products manufacturer Jishan Bhd 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, Jishan 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 Dec 12, 2025, Jishan’s issued share capital stood at RM29.97 million, comprising 235.15 million shares.

In a bourse filing on Wednesday, 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,” Jishan noted.

The exercise is conditional upon approvals from Jishan shareholders at an extraordinary general meeting to be held in the first quarter of 2026, 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 second quarter of 2026, with the transfer targeted for completion by the fourth quarter of 2026.

Director and major shareholder Ng Eng Siong, who holds a 42% stake in Jishan Capital Sdn Bhd — the ultimate holding company of Jishan, is deemed interested in the proposals and will abstain from board deliberations and voting.

Jishan, which debuted on the LEAP Market in February 2021 at 18 sen per share, posted a net profit of RM9.36 million on revenue of RM111.56 million for FY2024. For the six months ended June 30, 2025, it recorded RM4.21 million in net profit on RM68.84 million revenue.

The company said in its financial results report in August it will continue strengthening operational efficiencies, optimising working capital, and focusing on expanding its paper and plastic packaging products segments, while evaluating growth potential in trading.

Shares of Jishan were not traded on Wednesday. It last closed at 69 sen, valuing the company at RM162.25 million.