S’pore semiconductor firm Grand Venture Technology explores second listing in Malaysia
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GVT is working with advisers for a listing as soon as 2025.
PHOTO: GRANDVENTURETECHNOLOGY/FACEBOOK
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Singapore-based Grand Venture Technology (GVT), which produces components for semiconductor makers and other industries, is targeting a second listing in Malaysia.
The company on Sept 12 announced that it has been in discussions to carry out a potential secondary listing of its shares on the Main Market of Bursa Malaysia.
Details and the structure of the proposed secondary listing are still being worked out and no application has been made to the relevant authorities so far, GVT said.
It added that the necessary exchange filings will be made in due course.
GVT’s shares are down about 7 per cent in Singapore over the past 12 months and some 60 per cent lower than a peak three years ago, giving the company a market value of $188 million.
GVT could achieve a higher valuation by listing in Kuala Lumpur, where 34 initial public offerings (IPOs) have taken place so far in 2024.
Founded in 2012, GVT makes parts such as sheet metal components and modules for semiconductor, life sciences, aerospace, medical and other industries, its website shows.
Its revenue for the first half of 2024 rose 27 per cent from a year earlier to $68 million, with sales from the semiconductor segment contributing to half of that, the company said in a filing. Net profit was $4.3 million.
UMS Holdings, another Singapore-listed maker of semiconductor components, is also considering a second listing in Malaysia to widen its investor base and boost the liquidity of its shares, the company said in July.
Also in July, shares of Johor-based pawnbroker Well Chip Group, which is an associate company of Singapore Exchange-listed ValueMax Group, made its debut on the Main Market of Bursa Malaysia. After jumping more than 43 per cent on its debut on July 23, the shares are now down by more than 18 per cent since the listing.
Singapore has had only one IPO in 2024, with Singapore Institute of Advanced Medicine Holdings raising US$20 million (S$26 million), while IPOs in Malaysia have brought in US$1.3 billion, according to data compiled by Bloomberg. BLOOMBERG
