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CTIB, associated company of MSM International, plans Malaysia IPO

CATALIST-LISTED metal engineering firm MSM International said on Monday that its associated company, CTIB or Cosmos Technology International Berhad, has submitted an application for a listing on the LEAP Market of Bursa Malaysia.

Malaysia's LEAP Market is an adviser-driven market targeted at helping emerging companies with fundraising. MSM International currently holds an effective interest of 40 per cent in CTIB.

The proposed listing is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of MSM International for the financial year ending March 31, 2020, it said.

MSM International shares last changed hands on Dec 20 at S$0.025.