IPO ... Inari Bhd/Insas

Inari Bhd, an electronic manufacturing services (EMS) provider in the semiconductor industry, has been given the nod by Bursa Malaysia Securities Bhd to list on the ACE Market.

It was expected to list in the second quarter on 2011. Inari is a 44% associated company of Main Market-listed INSAS BHD.

Since the company’s inception in 2006, it had not only positioned itself as a leading EMS player in the RF segment of the semiconductor industry, but also grown rapidly in capacity and revenue.

The group’s strong growth necessitates its listing exercise to raise funds for future expansion.

The company provides semiconductor packaging services for global players in radio frequency (RF) mobile industry, which include backend wafer processing and RF testing.

Its finished products are System in Package (SiP) and Quad Flat No-Lead (QFN), key components used in the manufacturing of a wide range of electronic products

Its products were used mainly in the wireless telecommunications, including smartphones and medical sectors, with its customer base including Avago Technologies Trading Limited, Vigsys Sdn Bhd, Ceedtec Sdn Bhd and Newict (M) Sdn Bhd.