At the opening bell, the company saw 42 million shares traded.

The company is principally an investment holding company and is involved in electronics manufacturing services (EMS).

Its non-independent managing director and CEO, Tee Kim Chin, said Cape EMS is on track to expedite growth in the EMS industry to cater to the expected increase in demand for EMS services, based on the projected global growth of the semiconductor and electronics market.

Tee added that as at Jan 4, 2023, the company’s orderbook stood at RM358.7 million.

“The listing exercise successfully raised RM155.7 million through a public issue of 173 million new shares,” she said at the company’s listing ceremony in Bursa Malaysia today.

Cape EMS has a market capitalisation of RM830.7 million, based on its enlarged share capital of 923 million shares.

Of the total proceeds, RM53.1 million (34.1%) will be used for the construction of a new warehouse in Senai and installation of automated storage facilities, and RM62.8 million (40.3%) for the setting-up of a new cleanroom facility and purchase of new automated production lines for EMS operations.

The balance will be used to defray listing expenses.

“We would like to increase (our share of) the industry segment from the current 60% to 70%, driven by the demand from industry players,” she said.

The company serves customers from both the industrial and consumer sectors, mainly from the US, Europe and Asia-Pacific.