ACE Market-Bound ASM Automation Aims To Raise RM21.82 Mln From IPO

KUALA LUMPUR, May 29 (Bernama) -- Automation machinery solutions specialist ASM Automation Group Bhd aims to raise RM 21.82 million through its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia Securities Bhd on July 2, 2025.

In a statement today, ASM Automation said the IPO involves the public issue of 128.34 million new shares, representing 24 per cent of its enlarged share capital of 534.77 million shares.

It said there will be an offer for sale of 53.48 million existing shares, equivalent to 10 per cent of the enlarged share capital. 

“IPO shares will be issued at an IPO price of RM0.17 per share.

ASM Automation said RM11.40 million will be utilised for the construction of a new factory, RM2.30 million for the purchase of machinery, and the acquisition of equipment and components for demonstration machinery to support operational growth and customer engagement.

“RM2 million for design and development activities to enhance research and development capabilities, RM1.92 million for working capital to support day-to-day operations and RM4.2 million for listing expenses,” it said.

Its managing director, Chan Kok Heng, said the IPO proceeds will fuel the company’s next phase of strategic expansion.

He said the IPO would not only provide the funding required for its expansion plans but also enhance its visibility and credibility as a publicly listed automation machinery solutions provider.

“This will allow us to significantly expand our assembly and production capacity, improve workflow integration, and cater to the largest and more complex projects,” he said during the prospectus launch today.

M&A Securities is the IPO’s principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser.

-- BERNAMA