Latest news with #RM41.6mil
The Star
a day ago
- Business
- The Star
Oxford Innotech soars 24% in ACE Market debut
From left: Kaoy Lay Min, independent director of Oxford Innotech; Puan Che Rogayah Sudin, independent director; Khoo Lay Tatt, independent director; Lee Lai Chan, executive director; Ng Thean Gin, managing director; Hari Narayanan independent chairman; Oh Yen San, executive director; Teh Teng Wah, executive director; Lim Chia Wei, managing director of Malacca Securities Sdn Bhd; Datuk Kenny Yong, director, corporate and institutional coverage of Kenanga Investment Bank Bhd; Wong Yoke Nyen, managing director of WYNCORP Advisory Sdn Bhd. PETALING JAYA: Shares in Oxford Innotech Bhd saw a 24% price jump as it made a successful debut on the ACE Market of Bursa Malaysia yesterday. The Penang-headquartered engineering firm debuted at 36 sen a share, a seven-sen increase over its initial public offering (IPO) price of 29 sen a share. The stock closed at 38.5 sen in yesterday's trading. Oxford Innotech, through its subsidiaries, offers integrated engineering solutions with an emphasis on precision engineering components, mechanical assemblies, and automation and robotic solutions. Having raised RM41.6mil from its IPO, the company is set to construct a new factory and purchase or refinance new machinery. The new factory is slated for completion in 2027, but there is also new capacity scheduled to commence operations in the third quarter of this year. The two facilities will increase the company's total manufacturing area by 124.9% to 192,896 sq ft.
The Star
2 days ago
- Business
- The Star
Oxford Innotech spikes 24% in trading debut
KUALA LUMPUR: Shares in Oxford Innotech Bhd saw a 24% price jump as it made a successful debut on the ACE Market of Bursa Malaysia. The Penang-headquartered engineering firm debuted at 36 sen a share, a seven sen increase over its initial public offering (IPO) price of 29 sen a share. At 9.45am, the share was trading at 38.5 sen, a robust 32.76% premium over its reference price, but remained off the intramorning high of 40 sen a share. The stock topped the actives chart with 65.89 million shares changing hands. Oxford Innotech, through its subsidiaries, offers integrated engineering solutions with an emphasis on precision engineering components solutions, mechanical assembly solutions, as well as automation and robotic solutions. Having raised RM41.6mil from its IPO, the company is set to set to construct a new factory and purchase/refinance new machineries with the raised funds. The new factory is slated for completion in 2027, but there is also new capacity scheduled to commence operations in the third quarter of 2025. The two facilities will increase the company's total manufacturing area by 124.9% to 192,896 sq ft. Trading ideas: Yinson, Zetrix AI, Ekovest, Insas, BFood, Ireaka, TechStore, Smile-Link, KAB, FSMB, MMC Port, Eco-Shop, Alpha IVF
The Star
22-07-2025
- Business
- The Star
Oxford Innotech's IPO oversubscribed
PETALING JAYA: Oxford Innotech Bhd's initial public offering (IPO) has been oversubscribed by 3.42 times ahead of its listing on the ACE Market of Bursa Malaysia on July 29. The integrated engineering solutions provider said its IPO is expected to raise RM41.6mil in proceeds, involving a public issue of 143.5 million new ordinary shares at an issue price of RM0.29 per share, representing 20.2% of the enlarged share capital. In addition, 50 million existing shares, or 7% of the enlarged share capital, were offered via private placement to selected investors and bumiputra investors approved by the Investment, Trade and Industry Ministry.
The Star
21-07-2025
- Business
- The Star
Oxford Innotech's IPO oversubscribed by 3.42 times
KUALA LUMPUR: Oxford Innotech Bhd's (OXB) initial public offering (IPO) has been oversubscribed by 3.42 times ahead of its listing on the ACE Market of Bursa Malaysia on July 29. The integrated engineering solutions provider said its IPO will involve a public issue of 143.5 million new ordinary shares at an issue price of RM0.29 per share, representing 20.2% of the enlarged share capital and expected to raise RM41.6mil in proceeds. In addition, 50 million existing shares, or 7.0% of the enlarged share capital, will be offered via private placement to selected investors and Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). OXB received 2,729 applications for 156.94 million issue shares valued at approximately RM45.51mil for the 35.5 million shares allocated to the Malaysian public, resulting in an overall oversubscription rate of 3.42 times. For the Bumiputera portion, OXB received 1,039 applications for 36.71 million issue shares, translating to an oversubscription rate of 1.07 times. Meanwhile, the public portion attracted 1,690 applications for 120.22 million issue Shares, resulting in an oversubscription rate of 5.77 times. The 27.0 million issue shares allocated to eligible directors, employees, and contributors to the group were fully subscribed. Managing director Ng Thean Gin said the proceeds raised would play a pivotal role in accelerating the group's strategic expansion plans, enabling it to scale more decisively and enhance its capabilities. 'The market for modular building systems is evolving, driven by the global demand for energy-efficient, cost-effective alternatives in construction. At the same time, the semiconductor manufacturing equipment market — projected to reach US$142.7bil by 2030 from US$92.5bil in 2024 — is on an upward trajectory, fuelled by rising demand for electronics and smart devices. 'With these trends in motion, we will continue to serve as a dependable partner to our customers, delivering solutions that meet today's industry needs while anticipating those of tomorrow,' Ng said in a statement. Of the RM41.6mil raised, RM23.1mil (55.5%) will fund a new factory, RM11.2mil (26.9%) will go toward machinery purchase and refinancing, RM3.3mil (8.0%) is set aside for working capital, and RM4mil (9.6%) for listing expenses. Malacca Securities serves as the principal adviser, sponsor, underwriter and joint placement agent, with Kenanga Investment Bank Bhd acting as joint placement agent, and WYNCORP Advisory Sdn Bhd as the corporate finance adviser for the IPO exercise.
