Mainboard newbie Mi Material opens flat at S$1.80 in early trading
The semiconductor materials manufacturer’s Singapore offer is 1.3 times subscribed
The Singapore-based semiconductor materials manufacturer Mi Material launched at S$1.80 on the Singapore Exchange’s mainboard, trading flat upon its debut on Wednesday (Oct 28). The S$215 million IPO opened with 77.5 million shares at S$1.80 each, with 1.3 times interest in the international placement and 2.3 times demand for the local offering.
Of the 754 successful applicants in the local tranche, most received 500 shares each. International investors, including Fullerton Fund Management, AR Capital, and Amova Asset Management Asia, collectively acquired 19.3 million shares. With an estimated market value of S$891 million, Mi Material is the ninth company to list on the SGX mainboard this year.
It manufactures precision solder spheres for advanced semiconductor packaging, with operations in Taiwan, mainland China, and a new plant in Senai, Johor, slated to boost earnings by late 2027.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
