Semico Capital Berhad, a provider of family entertainment products and services, has made a notable debut on the ACE Market of Bursa Malaysia Securities Berhad. The company’s shares opened at 45 sen, marking an 80% premium over its initial issue price of 25 sen, with an opening volume of 23,478,400 shares. This impressive start follows an oversubscription of 28.1 times for its initial public offering, indicating robust investor interest.
The Executive Director and CEO of Semico Capital, Tai Lee Chuen, expressed that the listing is a significant milestone for the company, highlighting the dedication of the team and the progress achieved. “Supported by the listing proceeds of RM23.2m, we are well positioned to accelerate our growth plans and pursue new opportunities within the family entertainment industry,” he stated.
The funds raised will be strategically allocated to support business expansion, including RM8.5m for new arcade and amusement machines, RM2.1m for replacing existing machines, and RM2.5m for purchasing toys and collectables. Additionally, RM1.6m will be used for repaying bank borrowings, and RM4m for working capital, with the remaining RM4.5m covering listing expenses.
Semico Capital plans to expand its arcade and amusement machine fleet and broaden its toys and collectables portfolio, aiming to strengthen customer engagement and meet market demand. Affin Hwang Investment Bank Berhad served as the Principal Adviser, Sponsor, Sole Placement Agent, and Sole Underwriter for the IPO.
