Shares in Nanofilm Systems Intercontinental Ltd jumped approximately 17% on their debut on Friday right after the original general public presenting (IPO) raised up to S$510 million ($375 million), in the major listing on the Singapore bourse in 8 years.
The IPO is just one of the handful of listings of a superior-tech company on the Singapore Trade, which has come to be a global hub for genuine estate financial commitment trusts in excess of the past 10 years. Fundraising in Southeast Asia has improved this yr but pales when compared with North Asian marketplaces.
Nanofilm, which provides coating elements for smartphones, televisions and smartwatches, secured the backing of 13 cornerstone traders, including subsidiaries of Singapore point out investor Temasek Holdings and Aberdeen Normal Investments.
“COVID has served to speed up the change from a concrete to a electronic earth. Nanofilm is obviously a person of the beneficiaries of this thematic,” mentioned Justin Tang, head of Asian research at advisory agency United Very first Companions.
The shares rose as significant as S$3.02 after opening at S$2.77 from the IPO value of S$2.59, in an issue in which the institutional portion was subscribed about 23 moments.
Nanofilm counts Canon and Microsoft among the its 300-as well as buyers. It was established in 1999 as a technology spin-off from Singapore’s Nanyang Technological University by Shi Xu, a professor-turned-entreprenur and currently the firm’s govt chairman.
Including an overallotment part, Nanofilm’s IPO will increase about $375 million, with the retail segment earning up only 2%. Xu controls about 55% of the agency, which instructions a current market value of virtually S$2 billion centered on the investing price tag of S$3. Nanofilm was the 3rd most actively traded inventory in Singapore.
Citi, Credit score Suisse and OCBC Lender have been joint world coordinators and bookrunners on the IPO with financial commitment financial institution CLSA. Evercore was the fiscal adviser for the issue.
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