From Bloomberg, September 11:
- Components maker GVT could list shares in KL in 2025: sources
- Malaysia IPOs have raised far more than Singapore this year
Singapore-based Grand Venture Technology Ltd., which produces components for semiconductor makers and other industries, is targeting a second listing in Malaysia, according to people familiar with the matter.
GVT is working with advisers for a listing as soon as 2025 the people said, asking not to be identified discussing private information. It is considering a listing by introduction, meaning it wouldn’t be raising funds, one of the people said. Deliberations are ongoing, the people said.
Representatives for GVT and Bursa Malaysia declined to comment.
GVT’s shares are down about 7% in Singapore over the past 12 months and some 60% lower than a peak three years ago, giving the company a market value of S$188 million ($145 million). GVT is aiming for a higher valuation by listing in Kuala Lumpur, where IPOs have been on the rise this year, the people said.
The IPO would extend a reversal in a trend of Malaysia-based companies seeking listings in Singapore, which is viewed as more of a financial hub with access to global investors. UMS Holdings Ltd., another Singapore-listed maker of semiconductor components, said in July it was also considering a second listing in Malaysia to widen its investor base and boost the liquidity of its shares....
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