UMS Integration has issued its prospectus for the secondary listing on the main market of Bursa Malaysia Securities Berhad.
The secondary listing will be undertaken by way of introduction and will not involve any issuance or offering of shares. UMS shares will be fully fungible, where shareholders will be able to transfer their shares between the mainboard of the Singapore Exchange (SGX) and the main market of Bursa Securities for trading.
Following the issuance of the prospectus, UMS is scheduled to be listed on the Bursa on Aug 1.
The company, which is currently listed on the mainboard of the SGX with a market capitalization of about $970 million, reported earnings of $40.6 million for FY2024 ended Dec 31, 2024, down 32% y-o-y. For 2HFY2024, the company saw a 29% dip in earnings of $11.1 million.
Meanwhile, the group reported revenue for the full year of $242.1 million, down 19% y-o-y. For 2HFY2024, the group reported 9% lower earnings of $67.2 million.
UMS first announced the proposed secondary listing in a July 17 bourse filing. It said the move would broaden the company’s investor reach and widen its investor base, and potentially increase the liquidity of the company’s shares.
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Shares in UMS Integration closed 3 cents lower or 2.206% down at $1.33 on June 30.
