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Aurelius Technologies Berhad Launches Prospectus for Main Market Listing
November 29, 2021 | ACN NewswireEstimated reading time: 1 minute
Aurelius Technologies Berhad (ATech), a provider of electronics manufacturing services (EMS) for industrial electronic products enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities), is pleased to announce the launch of the Company's prospectus for the initial public offering (IPO).
ATech offers a comprehensive range of EMS to multinational corporations across 11 countries covering Asia Pacific, Americas and Europe. These services include engineering support services, prototyping, board assembly, mechanical assembly and test for communications devices, Internet of Things (IoT) devices, electronic devices and semiconductor component modules used by the telecommunications, transportation, power management and IoT industries.
With a long track record of 28 years, ATech has built a business based on long-term client partnerships. All top five customers are foreign companies or subsidiaries of US public-listed companies.
The IPO involves up to 103.87 million ordinary shares comprising public issue of 77.01 million shares and an offer for sale of up to 26.86 million shares. The institutional offering of up to 80.96 million shares represents 22.60% of the enlarged issued shares. The retail offering of up to 22.91 million shares, representing 6.40% of the enlarged issued shares, will be offered at a retail price of RM1.36 per share.
The company is expected to raise RM104.73 million in proceeds from the IPO, of which RM40.0 million would be used to acquire new machinery and equipment, RM29.52 million for repayment of borrowings, RM28.13 million for working capital and RM7.08 million for listing expenses.
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