ASM Automation debuts on ACE Market at IPO price
The automation solutions provider was the most actively traded counter at the opening bell, with over 10 million shares changing hands.
The IPO raised RM21.82 million from a public issue of 128.34 million new shares.
ASM Automation is the 33rd company to be listed on Bursa Malaysia this year and the 24th on the ACE Market.
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The Sun
17 hours ago
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KUALA LUMPUR: ASM Automation Group Bhd, a home-grown automation machinery solutions provider, marked a key milestone today with its listing on the ACE Market of Bursa Malaysia. The company's shares opened at 17 sen each, matching the initial public offering (IPO) price. The counter closed at 16.5 sen, 0.5 sen or 2.9% below the offer price, with 51.425 million shares traded. Founded in 1994, ASM has evolved from a small-scale custom automation provider into a regional player in industrial automation, specialising in front-of-line processing and end-of-line packaging solutions for the food and beverage (F&B) manufacturing sector. Its services are supported by equipment upgrades, after-sales service, and a strong focus on design and development (D&D), enabling clients to automate and optimise their production lines for improved efficiency and reduced labour dependency. ASM raised RM21.82 million through the issuance of 128.34 million new shares. Of the IPO proceeds, RM11.4 million will be used for land acquisition and construction of a new factory to expand production and assembly capabilities; RM2.3 million for the purchase of machines and equipment to support operational growth and customer engagement; RM2 million to enhance D&D activities; RM1.92 million for working capital; and RM4.2 million to cover listing expenses. M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. Commenting on the company's debut, ASM managing director Chan Kok Heng said, 'Today marks a defining chapter in ASM's 30-year journey. Our successful listing is a testament to our team's dedication, the trust of our customers, and the confidence of our investors. With the capital raised, we're poised to scale up our operations, strengthen innovation and reinforce our leadership in automation.' M&A Equity Holdings managing director Datuk Bill Tan said, 'ASM's strong foundation, export footprint, and D&D capabilities make it well-positioned for regional growth. The market's response underscores investor confidence in its strategic direction and long-term prospects.' Echoing the sentiment, Eco Asia Capital Advisory managing director Kelvin Khoo, who is also the company's financial adviser, noted, 'ASM's listing reflects its strong fundamentals, operational maturity, and visionary leadership. With growing demand for intelligent automation, the group is well-positioned to deliver sustained value to shareholders.' The listing is set to catalyse ASM's next growth phase, including the development of its new factory, expanded R&D efforts, and penetration into new markets. As manufacturers increasingly turn to automation to optimise efficiency and reduce labour reliance, ASM aims to play a pivotal role in enabling digital transformation across industries.
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