AME Elite Consortium to issue 85.4m new shares under IPO

From left are Jaimie Sia Zui Keng, executive director, head, capital markets of RHB Investment Bank Bhd; Jeffri M. Hashim, chief executive officer, CIMB Investment Bank Bhd; Kelvin Lee Chai, group managing director of AME Elite Consortium Bhd and Simon Lee Sai Boon, executive director of AME Elite.

KUALA LUMPUR: Industrial space solutions provider AME Elite Consortium Bhd is issuing 85.4 million new shares to the public under its proposed listing on the Main Market of Bursa Malaysia Securities.

The 85.4 million shares represent 20% of the group’s enlarged share base of 427.1 million shares, the company said in a statement on Wednesday.

The proceeds from the IPO will be mainly used for capital expenditure and working capital, and to cover listing expenses.

Of the entire public issuance comprising 85.4 million new shares, AME said Elite said 8.5 million shares would be open to the Malaysian public via ballot while 8.5 million shares would be for eligible directors and employees.

It also said 19.2 million shares would be for institutional and selected investors while 49.1 million shares would be for approved Bumiputera investors.

AME signed a retail underwriting agreement with CIMB Investment Bank Bhd, its principal adviser, managing underwriter, joint underwriter and joint bookrunner, together with RHB Investment Bank Berhad, its joint underwriter and joint bookrunner,

AME provides end-to-end industrial space solutions, encompassing the design-and-build of large plants, development of industrial parks, as well as the sale and lease of industrial factory units.

Among its clients are multinational and local companies from diverse sectors such as aerospace, automotive, electronics, logistics, consumer and food, and many more.

These activities are supported by AME’s in-house engineering and construction capabilities, including mechanical and electrical engineering, and industrialised building system involving steel structure and pre-cast concrete fabrication.

AME also has a property investment arm consisting of rental of industrial properties and management of workers’ dormitories within its industrial parks.