ASM Automation Group Berhad (“ASM” or the “Group”), an established specialist of automation machinery solutions in Malaysia, is pleased to announce that the public portion of its initial public offering (“IPO”) has been oversubscribed by 1.27 times, reflecting robust investor interest and confidence in ASM’s business model and future prospects.
To recap, ASM’s IPO comprises 128.34 million new ordinary shares (“Issue Shares”) and an offer for sale of 53.48 million existing shares (“Offer Shares”), structured as follows:
Public Issue
- Malaysian Public:
- 26.74 million shares or 5.0% of the Group’s enlarged issued share capital, with 2.5% made available to public investors and the remaining 2.5% are made available to Bumiputera public investors.
- Eligible Persons:
- 10.70 million shares or 2.0% of the enlarged issued share capital will be allocated to eligible directors, key senior management and employees through Pink Form Allocations.
- Private Placement to Bumiputera Investors:
- 66.85 million shares or 12.5% of the enlarged issued share capital are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI“).
- Private Placement to Selected Investors:
- 24.06 million shares or 4.5% of the enlarged issued share capital are reserved for private placement to selected investors.
Offer for sale
- Offer for sale of 53.48 million shares or 10.0% of the enlarged issued share capital by way of private placement to selected investors.
The Company received a total of 2,427 applications for 60,770,400 Issue Shares from the Malaysian public, representing an overall oversubscription rate of 1.27 times.
Of this, 1,056 applications for 22,371,700 Issue Shares were received under the Bumiputera public portion (oversubscribed by 0.67 times), while the remaining 1,371 applications for 38,398,700 Issue Shares under the other Malaysian public portion recorded an oversubscription of 1.87 times.
Of that, 66.85 million Issue Shares allocated to Bumiputera investors approved by the MITI were fully taken up after applying the relevant clawback and reallocation provisions.
The 10.70 million Issue Shares allocated to Eligible Persons under the Pink Form Allocations have also been fully subscribed. The 24.06 million Issue Shares and 53.48 million Offer Shares made available to selected investors via private placement were also fully taken up.
The notices of allotment will be mailed to all successful applicants by 1 July 2025.
Mr. Chan Kok Heng, Managing Director of ASM Automation Group Berhad, said,
“We are deeply grateful for the support from our investors. The encouraging response to our IPO affirms confidence in ASM’s expertise and growth potential in the automation machinery space.
The funds raised will accelerate our expansion plans, including the establishment of a new factory, purchase of advanced machinery, and intensifying our D&D capabilities to better serve a growing base of domestic and international clients.”
ASM Automation Group Berhad is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 2 July 2025.
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