It’s part of the group’s strategic goal of growing its manufacturing footprint in the country
SEMICONDUCTOR company UMS Holdings is seeking a secondary listing on the main market of Bursa Malaysia.
This will allow the group to broaden UMS’ investor reach and widen its investor base, as well as improve the liquidity of its shares through separate trading platforms, said the company in a bourse filing on Wednesday (Jul 17).
The secondary listing will also enable the company to tap additional platforms and different equity markets for future fundraising, it said.
Additionally, UMS highlighted that growing its manufacturing footprint in Malaysia, which has an “established” semiconductor ecosystem, is one of its strategic business goals. For instance, the group earlier this month acquired more than five acres of industrial land in Penang for RM15.2 million (S$4.5 million).
UMS said it has appointed relevant professional advisers to commence preparatory work on the proposed secondary listing. Currently, no application has been made to the relevant authorities.
“The company will continue to keep shareholders updated relating to the proposed secondary listing as may be appropriate from time to time,” it said.
Shares of UMS closed flat at S$1.19 on Wednesday, before the announcement.
