Emits appoints Mercury Securities to underwrite 35.158 million IPO shares
The Penang antenna maker plans an ACE Market debut in the fourth quarter of 2026, with public issue proceeds earmarked for projects and R&D equipment.
Emits Bhd has agreed terms with Mercury Securities Sdn Bhd for the underwriting of 35.158 million new shares in its initial public offering (IPO). The antenna manufacturer from Penang is targeting the fourth quarter of 2026 for its listing on Bursa Malaysia’s ACE Market.
The offering combines 93.75 million newly issued shares with the sale of 37.50 million existing shares. These represent, respectively, 20% and 8% of the enlarged share capital, which will total 468.77 million shares.
Mercury Securities’ underwriting commitment covers the public ballot allocation of 23.439 million shares and another 11.719 million reserved for eligible participants. These include directors, employees and people who contributed to the group’s success. A further 58.596 million new shares are intended for placement with selected investors.
Group managing director Loy Boon Liang said funds raised through the public issue would provide working capital for new projects and pay for additional research and development machinery and equipment. Land mobile radio antennas remained its main product, he said, while machinery investment had also been made to enter the 5G base station antenna segment.
Emits has offered antenna manufacturing services since 2016. It runs a plant in Bayan Lepas, Penang, with assembly and testing support from a line in Taiwan. More than 70% of revenue comes from overseas markets, principally the US and Germany. Besides underwriting, Mercury Securities acts as principal adviser, sponsor and placement agent for the flotation.
