Aemulus seen gaining from weaker ringgit; Shares jump on Bursa debut

by **Cals** Tue 15 Sep 2015, 18:47

New Listing

[size=28]Aemulus seen gaining from weaker ringgit; Shares jump on Bursa debut

By Yimie Yong / theedgemarkets.com | September 15, 2015 : 1:18 PM MYT

KUALA LUMPUR (Sept 15): Aemulus Holdings Bhd expects to benefit from the weaker ringgit against the US dollar, as 60% of the semiconductor testing equipment specialist's sales are denominated in US dollars.

Speaking to reporters at Aemulus' listing ceremony, Aemulus executive director and chief executive officer Ng Sang Beng said its main markets included China, Singapore, Thailand and South Korea, besides the US and the Philippines.

"We are also looking at the Taiwanese and Japanese markets. We need to focus more on research to compete in the global market," Ng said.

The ringgit changed hands at 4.3040 against the US dolllar today, compared with the strongest level at 3.1970 over the last year.

Today, Aemulus shares gained substantially during its Bursa Malaysia debut. Earlier, Aemulus shares opened at 36 sen, compared to its initial public offering (IPO) price of 28 sen.

Aemulus rose as much as 16.5 sen or 59% to 44.5 sen. At 12:30pm, the stock pared gains at 40 sen, for a market capitalisation of RM175.54 million.

It was the second most actively-traded counter on Bursa Malaysia, with some 76 milion shares done.

Aemulus’ IPO comprises a public issue of 87.79 million new shares and an offer for sale of 43.89 million existing shares.

Upon listing, Aemulus has an expanded issued share base of 438.85 million shares.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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