OpenSys proposes to transfer listing to Main Market by the third quarter


KUALA LUMPUR: Software firm Opensys (M) Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia by the third quarter of 2022.

In a submitting with Bursa Malaysia, OpenSys stated the proposed listing transfer signifies the progress, profitability and monetary energy of the group because it has met the revenue observe file necessities for a transfer to the Main Market.

As at Jan 31, 2022, being the newest practicable date (LPD), the issued share capital of the firm was RM29.79 million comprising 446.84 million strange shares.

“OpenSys and its subsidiaries have met the necessities for the proposed listing transfer as set out in the fairness tips issued by the Securities Commission Malaysia,” it stated.

The group stated its market capitalisation is roughly RM169.80 million — having grown from its listing market capitalisation of roughly RM53.23 million, reflecting the group’s present outlook and prospects, dimension and scale of operations in addition to stakeholders’ confidence and perception in the firm.

“The board believes that the proposed listing transfer will improve the firm’s credibility and fame and accord the firm with better recognition amongst institutional buyers,” it added.

The group has achieved an audited consolidated revenue after taxation attributable to the house owners of the firm (PATMI) of roughly RM11.08 million for the monetary yr ended Dec 31, 2020 (FY2020) and an combination consolidated PATMI of roughly RM32.34 million for the previous three audited FY2018, FY2019 and FY2020.

At the shut of Bursa Malaysia at the moment, OpenSys share worth eased one sen to 36 sen per share with 357,400 shares traded. – Bernama

Source link