Hong Kong-listed Metasurface launches S$9.72 million placement ahead of SGX Catalist dual listing
Precision engineering firm prices new shares at S$0.54 apiece, targets Nov 4 debut
Singapore-based Metasurface Technologies has launched a S$9.72 million share placement at S$0.54 per share, in preparation for its planned dual listing on the Singapore Exchange's Catalist board on November 4. The firm aims to raise about S$7.28 million in net proceeds, which it plans to allocate towards business expansion, quality control, and working capital needs.
Metasurface, a precision engineering services provider, currently trades on the Hong Kong Stock Exchange's Growth Enterprise Market. The placement, open to both retail and institutional investors, involves the issuance of 18 million new shares, bringing Metasurface's market capitalisation to approximately S$90 million post-listing.
The placement is managed by UOB Kay Hian. Metasurface's revenue rose 8.9% year-on-year to S$27 million in the six months ending June 2026, while net profit fell 57.7% to S$3.7 million, primarily due to a one-off S$6.4 million gain from reclassifying its investment in MetaOptics. The company intends to diversify its business into data storage, aerospace, and oil and gas sectors, as well as expand its customer base through potential joint ventures, acquisitions, and strategic alliances.
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