OM Holdings Limited Debuts on the Main Market of Bursa Malaysia Securities Berhad
The first-ever cross listing on Bursa Securities and the ASX
KUALA LUMPUR, 22 JUNE 2021 – OM Holdings Limited (“OMH”), a vertically integrated manganese ore and ferroalloy producer primarily listed on the Australian Securities Exchange (“ASX”), has successfully debuted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) at 9.00 a.m. today at an opening price of RM2.72 per share, which is a 5.84% premium from the listing reference price of RM2.57 per share.
The listing reference price was calculated based on the closing market price of OMH shares traded on the ASX of A$0.825 on 21 June 2021, multiplied by the closing Bank Negara Malaysia A$:RM exchange rate of A$1.00:RM3.1115. Subsequent to the listing, OMH shares on Bursa Securities are now being traded independently from OMH Shares on the ASX. The trading price of OMH shares on Bursa Securities and ASX may differ due not only to currency fluctuations but also due to the demand and supply dynamics and difference in trading participants and investor bases on both exchanges.
As at the listing date, a total of 16.8 million shares are available for trading on Bursa Securities, exceeding the aggregate of 10.0 million shares initially undertaken by Mr Low Ngee Tong, the Executive Chairman and Chief Executive Officer and Promoter of OMH. As OMH shares are fully fungible between the 2 exchanges, shareholders are able to transfer their shares listed on the ASX to Bursa Securities, and vice versa for trading.
Mr. Low said, “We are pleased to achieve this significant milestone in over the 20-year history of our Company, as well as the positive reception of local investors in our shares on Bursa Securities. Our secondary listing also aligns with our future expansion plans for both our upstream and downstream business activities to capture the growth opportunities in the region. In time, we are hopeful that we will be able to grow our market presence amongst Malaysian investors, and boost the trading activity and liquidity for our shares in the Malaysian capital markets.”
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/