KUALA LUMPUR, THMY Holdings Bhd, a Penang-based provider of automated testing systems for circuit boards, has inked an underwriting agreement with Affin Hwang Investment Bank Bhd for its upcoming ACE Market debut, targeted for the fourth quarter of 2025.
In a statement, THMY said Affin will underwrite the IPO shares earmarked for the Malaysian public and eligible investors via pink form allocations.
From left: Hanif Ghulam Mohammed, CEO, AHIBB; Hasli Hashim, interim chairman and independent non-executive director; Hishamuddin Hud Ibrahim, chief operating officer; Ooi Can Nix, executive director and CEO, THMY; Datuk Mohd Sofi Osman, independent non-executive chairman; and Chua Hooi Luan, independent non-executive director.
Chief executive officer Ooi Can Nix said the listing will allow THMY to strengthen its market position in automated test solutions, driven by rising demand in the electrical and electronics sector, generative AI, data centres, and advanced digital infrastructure.
The IPO will comprise a mix of new share issuance and an offer for sale, representing up to 26.2% of the company. Proceeds from the new shares will be channelled towards building a new factory, repaying borrowings, funding design, research and development, working capital needs, and covering listing expenses.
According to its draft prospectus, the public issue includes 44.4 million new shares for the Malaysian public, 23.53 million shares for eligible persons, 53.78 million shares via private placement to selected investors, and 22.2 million shares for approved Bumiputera investors. Meanwhile, 88.8 million existing shares will be offered for sale by co-founder Ooi and his wife, Chu Mooi Leng.
THMY plans to increase production capacity with its new factory and additional assembly lines, while also broadening its customer base and tapping into high-growth markets. It also intends to set up a support and maintenance office in Thailand to better serve regional clients.
Currently, THMY’s customer base spans Europe, North America, and the Asia-Pacific, covering industries ranging from technology to healthcare. Affin Hwang IB is acting as the principal adviser, sponsor, sole placement agent, and underwriter for the IPO.
