Singapore-traded Grand Venture Technology eyes second listing in Malaysia

GRAND Venture Technology (GVT), which produces components for semiconductor makers and other industries, is targeting a second listing in Malaysia, sources said.  

GVT is working with advisers for a listing as soon as 2025, they said, asking not to be identified discussing private information.

It is considering a listing by introduction, meaning it would not be raising funds, one of the sources added. Deliberations are ongoing.

Representatives for GVT and Bursa Malaysia declined to comment. 

GVT’s shares are down about 7 per cent in Singapore over the past 12 months, and some 60 per cent lower than a peak three years ago.

This gives the company a market value of S$188 million. GVT is aiming for a higher valuation by listing in Kuala Lumpur, where initial public offerings (IPO) have been on the rise this year, the sources noted.

The IPO would extend a reversal in a trend of Malaysia-based companies seeking listings in Singapore, which is viewed as more of a financial hub with access to global investors.

UMS Holdings, another Singapore-listed maker of semiconductor components, said in July it was also considering a second listing in Malaysia to widen its investor base and boost the liquidity of its shares.

Singapore has had only one listing this year, with the Singapore Institute of Advanced Medicine Holdings raising US$20 million, while IPOs in Malaysia have brought in US$1.3 billion, Bloomberg data showed.

Founded in 2012, GVT makes parts such as sheet metal components and modules for semiconductor, life sciences, aerospace, medical and other industries, its website shows.

Its revenue for the first half of 2024 rose 27 per cent from a year earlier to S$68 million, with sales from the semiconductor segment contributing to half of that, the company said in a filing. Net profit was S$4.3 million. BLOOMBERG