LSH Capital Launches Prospectus for Transfer of Listing from LEAP Market to ACE Market of Bursa Malaysia
Kuala Lumpur, Friday, 28th February 2025 – Lim Seong Hai Capital Berhad (“LSH Capital” or “the Company”) officially launched its prospectus in conjunction with its transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) (“Transfer of Listing”), following its prospectus launch event at Shangri-La, Kuala Lumpur, this morning. This strategic milestone underscores the Company’s commitment to long-term growth, unlocking greater market opportunities and enhancing its visibility to a broader base of investors.
LSH Capital, together with its subsidiaries (“the Group”), is a fully-fledged construction company with expertise in construction and engineering works, construction-related services and solutions, and the supply of construction products. Beyond its core construction operations, the Group has an established presence in the wholesale and retail of lighting and related mechanical and electrical (“M&E”) products as well as hardware products and tools, through 12 physical retail stores strategically located across the Klang Valley region as well as online e-commerce platforms, including its own digital storefronts. Beyond retail, LSH Capital has diversified into property development, undertaking various projects such as LSH Segar in Cheras and Lake Side Homes in Sungai Besi. These developments reflect the Group’s commitment to expanding its footprint in the property sector while leveraging its core expertise in construction and engineering.
The prospectus launch is in conjunction with LSH Capital’s public offering (“Public Offering”) of 191.0 million ordinary shares at an offering price of RM0.88 per share. The Public Offering comprises approximately 16.8 million new shares made available for application by the Malaysian public, approximately 12.6 million new shares offered to eligible directors and employees of the Group as well as other persons who have contributed to the success of the Group, and approximately 161.7 million shares being made available to Bumiputera investors approved by the Ministry of Investment, Trade, and Industry (“MITI”) and other institutional and selected investors by way of private placement.
Upon listing on the ACE Market of Bursa Malaysia, LSH Capital is expected to achieve an estimated market capitalisation of RM 737.8 million, based on the issue price of RM 0.88 per share and an enlarged share capital of 838.4 million shares. The Public Offering strengthens LSH Capital’s financial position in funding the working capital requirements for the Group’s
ongoing and future construction projects, as well as defraying expenses related to the Transfer of Listing.
“As we embark on our transition to the ACE Market, our mission remains clear. To grow responsibly, to innovate continuously, and to deliver long-term value to our stakeholders. This listing is not just a financial milestone. It is a strategic decision, one that will enable us to expand our capabilities, strengthen our financial position, and create new opportunities for investors and partners like you.” said Tan Sri Datuk Seri Lim Keng Cheng, the Non-Executive Chairman of LSH Capital at the prospectus launch today.
“This is an opportunity to grow together, to innovate together, and to succeed together. With the funds raised from this listing, we are planning to expand our construction and construction related services and solutions orderbook. We are also aiming to expand into opportunities of infrastructure concession ownership to strengthen our presence in the industry. Our robust orderbook, diversified revenue streams, and commitment to innovation place us in a strong position to navigate industry challenges and drive long-term shareholder value. This is just the beginning. Our sights are set beyond the ACE Market, and we aim for the Main Market, where we can scale our impact even further,” added Tan Sri Datuk Seri Lim Keng Cheng.
Ms. Tracy Chen Wee Keng, Chief Executive Officer of AmInvestment Bank Berhad remarked that, “The successful transfer of LSH Capital’s listing from the LEAP Market to the ACE Market is a testament to the company’s strong fundamentals, growth trajectory and commitment to excellence. As the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this exercise. AmInvestment Bank is proud to have played a key role in supporting LSH Capital through this significant milestone.
This transition not only enhances LSH Capital’s visibility in the capital market but also paves the way for greater access to funding opportunities and investor participation. We congratulate LSH Capital on this remarkable achievement and look forward to supporting them as they embark on this next phase of growth.”
AmInvestment Bank Berhad is the appointed Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for LSH Capital’s transfer of listing to the ACE Market.
Indicative Timetable
Issuance of Prospectus and Opening of Application: 28th February 2025
Closing of Application: 6th March 2025
Balloting of Application for the IPO Shares under retail offering: 10th March 2025
Allotment of IPO Shares to successful applicants: 19th March 2025
Listing on the ACE Market: 21st March 2025
***End of Press Release***