KUALA LUMPUR (Oct 19): Penang-based antenna manufacturer Emits Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd ahead of its planned listing on the ACE Market of Bursa Malaysia in the fourth quarter of 2026.
Under the agreement, Mercury Securities will underwrite 35.158 million new shares allocated to the Malaysian public and eligible directors, employees and persons who have contributed to the group’s success.
Emits’ initial public offering (IPO) will involve the issuance of 93.75 million new shares and an offer for sale of 37.50 million existing shares, representing 20% and 8% respectively of its enlarged share capital of 468.77 million shares.
Of the new shares, 23.439 million will be made available to the Malaysian public through balloting while 11.719 million will be allocated to eligible persons. The remaining 58.596 million new shares and all 37.502 million offer-for-sale shares will be placed out to selected investors.
Emits group managing director Loy Boon Liang said proceeds from the public issue would be used to support working capital requirements for new projects and purchase additional machinery and equipment for research and development activities.
"These initiatives will enhance our product offering and development capabilities and position us to pursue a broader range of opportunities in the antenna manufacturing market," he said in a statement on Monday.
The company, which has been providing antenna manufacturing services since 2016, specialises in the design, production, assembly and testing of antennas used in telecommunications, automotive and industrial applications.
Loy said land mobile radio antennas, commonly used in handheld radios and walkie-talkies, remained the group’s key product, while it had also invested in machinery to venture into manufacturing 5G base station antennas.
"Future demand for antennas is expected to increase alongside the growing use of telecommunications devices and equipment across a wide range of applications, including telecommunications, automotive, consumer electronics, and aerospace and defence segments," he said.
The group operates a manufacturing plant in Bayan Lepas, Penang supported by an assembly and testing line in Taiwan. Overseas markets account for more than 70% of its revenue, led by the US and Germany.
Mercury Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.