http://www.thestar.com.my/business/business-news/2016/04/05/salutica-poised-for-listing-on-bursa-malaysia/
Salutica Bhd, a one-stop solution provider for the manufacture of consumer electronic products in Malaysia, has received Bursa Malaysia Securities Bhd’s approval for a listing on the ACE Market.
The Ipoh-based company said in a statement that the proposed listing was expected to strengthen its position as a vertically integrated consumer electronics manufacturer and further enhance its corporate reputation as well as brand name recognition.
Salutica’s wholly-owned subsidiary, Salutica Allied Solutions Sdn Bhd, is a vertically integrated manufacturer which can provide a full range of manufacturing services to its customers, as well as being principally involved in the design, development and manufacture of consumer electronic products such as Bluetooth related devices and other electronic products for internationally well-known brands.
Salutica, whic has about 800 employees at a manufacturing plant with a total built-up area of some 30,000 sq metres, launched its in-house brand, FOBO, in April 2013.
Salutica’s range of FOBO products, which use Bluetooth 4.0 technology and other wireless and touch screen light-guide technologies, include security tags, namely FOBO Tag and FOBO MAX as well as a broad range of tyre pressure monitoring system devices for motorcycles, cars, light trucks and vans.
The FOBO products are mainly exported to overseas markets such as the United States, Europe, China, United Kingdom, Japan, Australia, Germany, France and Russia.
Salutica’s proposed initial public offering will involve a total of 101 million ordinary shares of 10b sen each comprising a public issue of 78 million new shares and an offer for sale of 23 million existing shares.
Managing director and chief executive officer James Lim said that armed with equity from the capital markets, the group was optimistic with regards to its growth prospects and remained committed to sustained value creation for both its shareholders and stakeholders.
Erm..Bluetooth devices shipments grew from approx. 1.8 billion units in 2011 to approximately 3.0 billion units in 2014, representing a CAGR of approx. 18.6% with projected growth to approx. 4.9b units in 2018.Bluetooth device shipments in 2014 primarily comprised smartphones which accounted for 1.3 billion units or 42.8% of global Bluetooth device shipments in 2014.
The Ipoh-based, one-stop solutions provider for the manufacturing of consumer electronic products had obtained Bursa Securities’ nod for a listing on the stock exchange.
Managing director and chief executive officer James Lim (pic) said the company was thankful to its advisers for hard work in preparation for the IPO. “RHB IB’s appointment as our principal adviser, sponsor, underwriter and placement agent brings us another step forward in our listing process with its wealth of experience, which will be invaluable to the company, going forward,” said Lim in a statement.
Salutica’s proposed IPO will involve a public issue of 78.0 million new shares of RM0.10 each, comprising 19.4 million shares offered to the public, 9.7 million shares for eligible directors and employees as well as persons who have contributed to the success of Salutica and its subsidiary, 10.1 million shares for private placement to institutional and identified investors as well as 38.8 million shares by way of private placement to identified bumiputera investors approved by the International Trade and Industry Ministry.
The sale of 23 million existing shares by way of private placement would be offered to institutional and identified investors.
Apart from developing its in-house brand FOBO, which uses Bluetooth technology and other wireless, and touch screen light-guide technologies, Salutica also provides manufacturing services for other electronics and precision parts and component such as 3D glasses, camera lenses and subparts, optical light guides, and electronic locks.
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 5729 views | 5 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by Tro11ex > 2016-04-06 13:08 | Report Abuse
http://www.thestar.com.my/business/business-news/2016/04/05/salutica-poised-for-listing-on-bursa-malaysia/ Salutica Bhd, a one-stop solution provider for the manufacture of consumer electronic products in Malaysia, has received Bursa Malaysia Securities Bhd’s approval for a listing on the ACE Market. The Ipoh-based company said in a statement that the proposed listing was expected to strengthen its position as a vertically integrated consumer electronics manufacturer and further enhance its corporate reputation as well as brand name recognition. Salutica’s wholly-owned subsidiary, Salutica Allied Solutions Sdn Bhd, is a vertically integrated manufacturer which can provide a full range of manufacturing services to its customers, as well as being principally involved in the design, development and manufacture of consumer electronic products such as Bluetooth related devices and other electronic products for internationally well-known brands. Salutica, whic has about 800 employees at a manufacturing plant with a total built-up area of some 30,000 sq metres, launched its in-house brand, FOBO, in April 2013. Salutica’s range of FOBO products, which use Bluetooth 4.0 technology and other wireless and touch screen light-guide technologies, include security tags, namely FOBO Tag and FOBO MAX as well as a broad range of tyre pressure monitoring system devices for motorcycles, cars, light trucks and vans. The FOBO products are mainly exported to overseas markets such as the United States, Europe, China, United Kingdom, Japan, Australia, Germany, France and Russia. Salutica’s proposed initial public offering will involve a total of 101 million ordinary shares of 10b sen each comprising a public issue of 78 million new shares and an offer for sale of 23 million existing shares. Managing director and chief executive officer James Lim said that armed with equity from the capital markets, the group was optimistic with regards to its growth prospects and remained committed to sustained value creation for both its shareholders and stakeholders.