GEORGE TOWN: Penang-based Emits Bhd expects to be listed on the ACE Market of Bursa Malaysia in the fourth quarter of this year (4Q26).

In a statement yesterday, the antenna manufacturing service provider said it has entered into an underwriting agreement with Mercury Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO).

"The IPO exercise comprises a public issue of 93.75 million new ordinary shares and an offer for sale of 37.5 million existing shares, representing 20% and 8%, respectively, of the company’s enlarged issued share capital of 468.77 million ordinary shares upon listing.

"Mercury Securities will underwrite a total of 35.16 million shares made available for application by the Malaysian public," it said.

The group said the proceeds would be used for working capital for new projects, as well as for purchasing additional machinery and equipment for its research and development activities.

An original equipment manufacturer based in Bayan Lepas, Emits has an operating history of more than 10 years, having commenced its manufacturing services in 2016.

Through its subsidiaries, the group specialises in providing a full range of end-to-end antenna manufacturing services, mainly involving design, production, assembly and testing for both local and foreign customers. - Bernama