Following the approval from both the Securities Commission and Bursa Malaysia, a prospectus relating to the proposed secondary listing will be issued and made available, says UMS.
The mainboard listed semiconductor firm 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.
On Dec 31, UMS said that the proposed secondary listing does not involve any offering of shares.
UMS Integration held its IPO on the Singapore Exchange back in 2001, where it raised $51.6 million via a placement of 40 million new shares at $1.29 each. About a decade later, it attempted a dual listing in Korea to tap the semiconductor ecosystem there. But a non-Korean company ahead of UMS in the application was caught for fraud, and the dual listing eventually did not go through.
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Shares in UMS Integration closed 3 cents higher or 2.439% up at $1.26 on June 26.
