KUALA LUMPUR (March 27): AMS Advanced Material Bhd is now accepting applications from investors for its listing as the aluminium supplier seeks to raise about RM46 million from the ACE Market.
The initial public offering (IPO), priced at 29 sen per share, will raise about RM32.8 million for the company and another RM13.6 million for a private vehicle controlled by AMS Advanced managing director Keh Teng Yang, according to its official prospectus released on Friday.
Applications will close on April 10, and listing has been scheduled for April 23.
Based in Penang, AMS Advanced Material is mainly involved in the trading of semi-finished aluminium and copper products as well as the processing of semi-finished aluminium products.
The company sells to manufacturers, contractors and fabricators in industries including aerospace, semiconductor and automotive.
The IPO will offer investors up to a 31% stake in AMS Advanced Material, which made a net profit of RM8.57 million on revenue of RM129.7 million in the 12 months ended September 2025. Based on its IPO price, the company is expected to have a market capitalisation of RM177 million upon listing.
AMS Advanced Material is allocating RM8.1 million of the proceeds from the public issue to set up a manufacturing plant that will also double up as a warehouse in Penang, aimed at supporting its export-oriented semiconductor and engineering clients.
“This new facility will enable our group to import, process and distribute semi-finished aluminium products sourced globally,” the company said in its prospectus.
A further RM6.9 million will be channelled into expanding its aluminium architectural products segment, while RM2.5 million is earmarked for setting up a new distribution point in Kuantan, Pahang. The rest will cover bank repayments, working capital and IPO listing-related expenses.
M&A Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.