The company is scheduled to list on the ACE Market of Bursa Securities by January 2023

ONE-STOP electronics manufacturing services (EMS) provider NationGate Holdings Bhd has received Bursa Malaysia Securities Bhd’s approval to list on the ACE Market of Bursa Securities.

The IPO entails a public issue of 435.5 million new shares in NationGate, representing 21.0% of the enlarged share capital.

Out of the shares allocated for the public issue, 103.7 million new shares will be made available to the Malaysian public via balloting; 103.7 million new shares for its eligible directors and employees as well as persons who have contributed to the success of NationGate under the pink form Allocations, while the remaining 228.1 million new shares are earmarked for private placement to selected investors.

As part of its listing exercise, the existing shareholders of the company will also make an offer for sale of 290.4 million shares by way of private placement to selected investors and Bumiputera investors approved by the Ministry of International Trade and Industry.

NationGate MD Ooi Eng Leong said the approval for the listing is a significant milestone in the company’s journey to become a listed entity.

“Our proposed listing plan serves to fortify our financial strength for reinvestment into technological capabilities as well as building and retaining talented workforce in the dynamic ever-changing technological landscape in the EMS environment.

“It will also enable us to raise funds we need to purchase additional machinery and equipment to further expand our surface mount technology assembly capacity and enhance our production efficiency in line with the increased demands from our group’s existing and new customers,” he adds.

NationGate is scheduled to list on the ACE Market of Bursa Securities by January 2023.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.

NationGate is an EMS provider focusing on the assembly and testing of electronic components and products to produce completed printed circuit boards, semi-finished sub-assemblies and fully-assembled electronic products as well as semiconductor devices.

The company supports customers in a diverse range of industries such as networking and telecommunications, data computing, industrial instruments, consumer electronics, automotive, semiconductor and others. — TMR/ pic source nationgate.com.my