Semiconductor testing firm Aemulus eyes ACE Market listing

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KUALA LUMPUR (Mar 9): Aemulus Holdings Bhd, a semiconductor testing company, plans to use the proceeds of its proposed listing on the ACE Market of Bursa Malaysia for research and development (R&D) and working capital.

According to its draft prospectus on the Securities Commission (SC) website today, Aemulus said 24.41% of its proceeds will be allocated for R&D expenditure, which includes the financing of its new tester research laboratory and future R&D for new products and services and the improvement of its existing line of products and services.

“As at the last practicable date, our R&D team is in the midst of developing an upgrade for our Amoeba 7600, which commenced in 2013. We intend to launch this upgrade in 2016.

“We also plan to commence work on the upgrading of our Amoeba 4200 in 2015, with expected completion also in 2016,” it said.

Besides R&D expenses, 52.40% of its proceeds will be used for working capital, 8.14% will be for the purchase of property, plant and equipment, 4.88% will go to marketing, branding and promotion, and the remaining 10.17% will be used to cover its listing expenses.

Aemulus's initial public offering (IPO) involves 131.68 million shares, including a public issue of 87.79 million new shares. It also involves an offer for sale of up to 43.89 million existing Aemulus shares, which represents 10% of the company's enlarged issued share capital.

The promoters comprise its executive director (ED), chief executive officer and co-founder Ng Sang Beng, ED and co-founder Yeoh Chee Keong, as well as EDs Wong Shee Kian and Kan Ky-Vern, as well as Beach Capital and Aemuius Venture Sdn Bhd (AVSB).

On prospects, Aemulus expects to remain competitive in the semiconductor testing industry through the introduction of new products and services, while also expanding its export market.

Aemulus currently exports to Singapore, China, the US, South Korea, the Philippines, Thailand, Germany and Hong Kong.

“In particular, we plan to focus on further export penetration into the US and China. The US and China are among the key markets for consumer electronics and subsequently is a base for many semiconductor manufacturers and OSATs,” said the company.