QES to raise RM44.1mil via private placement to Unicomp unit

PETALING JAYA: QES Group Bhd has proposed a private placement of 83.3 million new shares, representing 10% of its issued share capital (excluding treasury shares), to Ray Tech Singapore Pte Ltd (RTS), a wholly-owned subsidiary of Shanghai Stock Exchange-listed Unicomp, at 53 sen per share.

The issuance, valued at about RM44.1mil, will be satisfied in cash and is subject to shareholder approval at an extraordinary general meeting, Bursa Malaysia’s approval for listing, and regulatory clearance from Chinese authorities.

In a filing with Bursa Malaysia, QES noted the exercise follows a strategic collaboration memorandum of understanding signed in May between QES Mechatronic and RTS to strengthen their positions in the semiconductor inspection industry.

The partnership focuses on manufacturing, technical cooperation, and global market expansion.

Upon completion, RTS will gain the right to nominate one director to QES’s board if it maintains at least 9% equity. QES noted the move is expected to enhance its technological capabilities, manufacturing efficiency, and global presence.

The money raised from the exercise will be used to expand QEs' manufacturing facilities, research and development and for working capital purposes.