OM Holdings Limited Launches Prospectus for Secondary Listing
At least 10 million OMH shares to be made available for trading on Bursa Securities.
KUALA LUMPUR, 11 JUNE 2021 – OM Holdings Limited (“OMH”), a vertically integrated manganese ore and ferroalloy producer, has today launched its Prospectus for the secondary listing of and quotation for the entire issued share capital of OMH by way of introduction (“Secondary Listing”) on the Main Market of Bursa Securities Malaysia Berhad (“Bursa Securities”) which marks another milestone in the Company’s journey. In a filing with Bursa Securities today, OMH has set out the timeline for its Secondary Listing, with the tentative listing date set on Tuesday, 22 June 2021 (“Listing Date”).
As a vertically integrated manganese and ferroalloy producer, OMH, via its subsidiaries and associates (“OMH Group”) covers the upstream operations involving exploration and mining of manganese ore, and downstream activities of smelting and trading of manganese ore and processed ferroalloys. The Group’s principal listing is on the Australian Securities Exchange (“ASX”), where it has been publicly traded since 1998 and shall remain as OMH’s primary stock exchange. OMH Group, is within the top ten largest producer of both ferrosilicon and manganese alloys outside China in 2020 based on its actual production, and sees enormous opportunities in the ASEAN region.
The Secondary Listing will be undertaken by way of introduction and will not involve the issuance of new shares. Further, as OMH shares will be fully fungible between the 2 exchanges, shareholders will be able to transfer their shares listed on the ASX to Bursa Securities, and vice versa, for trading. The fungibility mechanism is set out below:
(i) Upon the Secondary Listing, shareholders holding OMH shares on the ASX can request to have their shares removed to the Main Market of Bursa Securities for trading and vice versa.
(ii) OMH’s existing shareholders who wish to trade their shares on Bursa Securities may commence their request to remove their shares to the Malaysian register. As the request will take at least 3 market days to complete, shareholders who wish to commence trading 2 of their shares on the Listing Date are advised to submit their requests no later than 10.00 a.m. (Sydney Time) on Wednesday, 16 June 2021.
(iii) These removal requests are subject to the fulfilment of the conditions and criteria of both the ASX and Bursa Securities, OMH’s Share Registrars, as well as the depository regulations of both jurisdictions.
To facilitate liquidity and trading activity of OMH shares on the Main Market of Bursa Securities upon the Secondary Listing, Executive Chairman and Chief Executive Officer of OMH, Mr. Low Ngee Tong, has undertaken that he will, and will procure other notable shareholders of OMH, to transfer an aggregate of at least 10 million OMH shares from the ASX to Bursa Securities, representing 1.35% of the total number of issued OMH shares, to be made available for trading on the Listing Date.
Mr. Low said: “Through the Secondary Listing, we aim to broaden our investor reach and widen our investor base, and potentially increase the liquidity of our shares through separate trading platforms. It will enable us to tap into additional platforms for future fundraising and provide us with the flexibility to access different equity markets to raise funds. We may potentially undertake fundraising from the Malaysian capital markets after the Secondary Listing and channel the funds towards expanding our Sarawak Plant.”
The OMH Group’s manganese ore mining operations are based in the Bootu Creek Mine, Northern Territory of Australia. OMH owns a 13% effective stake in the Tshipi Borwa manganese mine in South Africa. The Group also operates ferroalloy smelters and manganese sintering facilities in Sarawak, Malaysia (via a joint venture with Samalaju Industries Sdn Bhd, a subsidiary of Cahya Mata Sarawak Berhad), and in Qinzhou, China. Logistics, marketing, and trading activities are carried out at our primary distribution hub in Singapore.
This announcement does not constitute an offer to sell or a solicitation or an invitation of an offer to purchase securities of the Company nor shall there be any offer, or sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction and is for information purposes only. Any decision to purchase or subscribe for securities of the Company should be made solely on the basis of information contained in the prospectus issued by the Company in relation to the Secondary Listing.
ABOUT OM HOLDINGS LIMITED
OM Holdings Limited (“OMH” or the “Group”) is a vertically integrated manganese ore and ferroalloy company. The Group’s business involves exploration, mining and trading of raw ores, smelting, as well as the marketing of processed ferroalloys. With over 25 years in the industry, OMH is listed on the ASX in 1998 and has operations across Australia, China, Malaysia, Singapore, and South Africa. Today, the Group is one of the world’s leading suppliers of manganese ores and ferroalloys and seeks to be the main ferroalloy supply partner to major steel mills and other industries.
For more information, visit https://www.omholdingsltd.com/