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The IPO Buzz: Malaysia’s Linkers Industries (LNKS) Prices Downsized IPO at $4.00

Thursday, December 5, 2024 10:39

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Linkers Industries Ltd. (LNKS), whose Malaysian operating subsidiary manufactures and supplies wire and cable harnesses, downsized its small IPO at pricing to 1.9 million Class A ordinary shares – down from 2.2 million shares in the prospectus – and priced the IPO at $4.00 – the low end of its $4.00-to-$6.00 range – to raise $7.6 million on Wednesday night, Dec. 4, 2024. Linkers Industries’ stock is expected to start trading today – Thursday, Dec. 5, 2024 – on the NASDAQ. R.F. Lafferty & Co. was the lead book-runner, working with Revere Securities. Linkers Industries, founded in 1995, has more than 20 years of experience in the wire/cable harnesses industry. The term – wire/cable harness – “refers to an assembly of wires/cables bound together with straps, cable ties and electrical tapes to transmit signals or electrical power,” the prospectus said. “Our customers are generally global brand name manufacturers and original equipment manufacturers (“OEMs”) in the home appliances, industrial products and automotive industries that are mainly based in the Asia Pacific Region.” Its products “are customized and made-to-order in accordance with the specific technical requirements of our customers,” Linkers Industries said in the prospectus. Linkers Industries Ltd. is profitable. For the year that ended June 30, 2024, Linkers Industries reported net income of US$0.42 million – about US$420,000 – on revenue of US$4.76 million, according to financial statements in the prospectus.

Source: https://www.iposcoop.com/the-ipo-buzz-malaysias-linkers-industries-lnks-prices-downsized-ipo-at-4-00/

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