Metasurface shares open flat at S$0.54 on SGX Catalist debut
The precision engineering firm’s placement is fully subscribed as at the close of applications on Monday
Metasurface Technologies' shares debuted on the Singapore Exchange's Catalist board on Wednesday, Nov 4, at S$0.54 each. The firm, a precision engineering-services provider, saw its shares open at this flat price and trade around S$0.54-0.545 throughout the morning session. The placement, which raised S$9.72 million, was fully subscribed as of the close of applications on Monday, with 335 placees securing their shares.
Five anchor investors, including Lion Global Investors, Asdew Acquisitions, and Manulife Investment Management, collectively subscribed for nearly 14 million shares, accounting for about 77.6% of the total placement. Post-placement, Metasurface is estimated to have a market capitalisation of S$90 million, based on the enlarged share capital of 166.6 million shares.
The company, founded in 2000 and headquartered in Singapore, primarily serves the semiconductor, aerospace, and data-storage sectors through precision machining and welding services. Metasurface plans to utilize the net proceeds for business expansion, quality control enhancement, and general working capital needs.
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.
