The two semiconductor players want to list across the Causeway, where initial public offerings have been on the rise
SINGAPORE-LISTED UMS Integration and Grand Venture Technology (GVT) have both received approval for their secondary listing on the main market of Bursa Malaysia.
In a bourse filing on Wednesday (Mar 26), semiconductor manufacturer UMS said such a listing would broaden its reach and widen its investor base, potentially improving the group’s share liquidity.
It would also give it access to another equity market for future fund-raising in support of the group’s growth in the coming years, it said.
UMS chairman and chief executive officer Andy Luong added that the group’s secondary listing will strengthen its role in the “fast-expanding semiconductor ecosystem” in Penang, as well as accelerate its strategic business goals in the region.
GVT, another semiconductor player, announced in a separate bourse filing on Tuesday evening that it had won the approval of the Securities Commission Malaysia to go ahead with its proposed secondary listing.
Last September, Bloomberg reported that the company was aiming for a higher valuation by listing in Kuala Lumpur, where initial public offerings have been on the rise.
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GVT’s shares had dropped about 7 per cent in Singapore in 2024, and by around 60 per cent from their peak nearly four years before. The company’s market value was then at about S$188 million.
Both semiconductor companies said that their proposed listing in Malaysia was still subject to change, and that there was no assurance that it would materialise.
The listing is also subject to conditions, such as the approval of shareholders at an extraordinary general meeting to be held later, said UMS.
Shares of UMS closed 0.9 per cent or S$0.01 lower at S$1.11 on Wednesday, before the news. GVT stocks closed at S$0.79, up 0.6 per cent or S$0.005.
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