KUALA LUMPUR – EMS provider Aurelius Technologies (ATech) launched its prospectus for its initial public offering, involving 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 offering of up to 80.96 million shares represents 22.6% of the enlarged issued shares. The retail offering of up to 22.91 million shares, representing 6.4% of the enlarged issued shares, will be offered at a retail price of RM1.36 (US$0.32) per share.

The company is expected to raise RM104.73 million (US$24.7 million) from the IPO. Some RM40 million will be used to acquire equipment, RM29.52 million for repayment of borrowings, RM28.13 million for working capital and RM7.08 million for listing expenses.

“Our IPO will enable us to speed up the execution of our plan to grow, strengthen and leverage our core competency of providing EMS for industrial electronics products, as well as continuing our expansion into the production of IoT modules that we started offering in early 2020,” said Lee Chong Yeow, executive director and CEO, Atech. “We are also expanding our production facilities with the construction of a new factory adjacent to our existing plant in Kulim Hi-Tech Park. The new factory will enable us to add floor space to grow the semiconductor component modules production to cater for lithium-ion battery pack production and our existing EMS operations. We will have a total of 15 SMT lines by the end of 2023 from both the new factory and additions to the current factory. These new SMT lines will increase our annual capacity by 198.7% for the financial year ending 31 January 2024 from FYE21 to meet the expected increase in demand from our customers.”

For 2021, communications and IoT products accounted for 89.5% of revenue; electronic devices accounted for 9.4%; and semiconductor components accounted for less than 1%.

Ed.: RM1 = US$0.24

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