KUALA LUMPUR (June 11): Australia-listed mining firm OM Holdings Ltd (OMH), which is seeking a secondary listing in Malaysia, said today the tentative listing date of OMH shares on the Main Market of Bursa Malaysia is June 22, 2021.

It is the first cross-listing on Bursa and the Australian Securities Exchange (ASX), according to OMH’s invitation email in conjunction with the company’s prospectus launch today ahead of the group’s Bursa listing.

In filings with Bursa today, OMH said its shareholders may commence the process of removing their shares from the Australian to the Malaysian register via the submission of a register removal request with OMH’s Australian share registrar, Computershare Investor Services Pty Ltd. 

"The register removal process will take at least three market days to complete,” OMH said.

"Holders who wish to commence trading of their shares on the listing date on June 22, 2021 should submit their register removal request to the Australian share registrar by 10am (Sydney time) on June 16, 2021,” said OMH, which already has existing operations in Malaysia.

According to OMH today, the company’s Bursa listing is by way of introduction.

Listing by introduction is a method of listing a company’s shares which are already in issue on another bourse.

The listing by introduction process is similar to a company’s initial public offering (IPO).

OMH’s website indicates that the company, which is a vertically-integrated manganese ore and ferroalloy company, is engaged in the business of mining and trading of raw ores, as well as smelting and marketing of processed ferroalloys. 

With an established history of over 25 years in the industry, OMH said the company, which is already listed on the ASX, captures value across the entire process chain through operations in Australia, China, Japan, Malaysia, Singapore and South Africa. 

"Our latest project is a greenfield smelter complex in Sarawak, which successfully commenced production in 2014. 

"Today, the group is one of the world’s leading suppliers of manganese ores and ferroalloys, and seeks to be the main ferroalloy supply partner to major steel mills and other industries.

"Through our global trading network, we distribute products from our Asia-Pacific base to customers around the world,” OMH said.

Meanwhile, Bernama quoted Low Ngee Tong, who is OMH's substantial shareholder, executive chairman and chief executive officer (CEO), as saying at a press conference today in conjunction with the prospectus launch that through the secondary listing on Bursa, OMH aims to broaden its investor reach and base, and increase the liquidity of its shares through separate trading platforms.

"We may undertake fundraising from the Malaysian capital market after the secondary listing and channel the funds towards expanding our Sarawak plant,” Low said.

On the ASX today, OMH's share price closed up A$0.045 or 5.45% at A$0.87 for a market value of about A$642.6 million (about RM2.04 billion).

OMH had 738.62 milion issued shares as at April 1, 2021, according to the company's latest annual report.

The annual report showed that Citicorp Nominees Pty Ltd is OMH's largest shareholder with a 27.16% stake.

Notable OMH shareholders include TA Securities Holdings Bhd, which has a 0.24% stake.