Chemlite Innovation Berhad (“Chemlite Innovation” or “the Company”), a leading engineering support services provider specializing in surface finishing treatments, has officially unveiled its prospectus in preparation for its Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The IPO aims to raise RM30 million through the issuance of 120,000,000 new shares. The funds generated will be strategically allocated to drive business expansion and operational improvements, with a focus on:
- Enhancing Operational Capabilities: This includes the construction of a new facility, the establishment of cleanrooms, investments in advanced machinery and equipment, and the formation of a dedicated research and development (“R&D”) department.
- Boosting Working Capital: The additional funds will support business growth and operational sustainability, ensuring long-term stability and success.
Mr. Chong Yuen Fong, Executive Director and CEO of Chemlite Innovation Berhad, stated that the IPO represents a major step forward in the Company’s growth journey. He highlighted that the proceeds will enable the expansion of anodising services and the construction of a new facility, increasing production capacity. This initiative will allow the Company to strengthen its market presence, particularly in the semiconductor, electrical, and electronics industries.
Mr. Heng Chee Khiang, Executive Director and COO, emphasized that the listing will provide a solid foundation for Chemlite Innovation to create added value for customers and stakeholders. He expressed confidence that the funds raised will support the Company in meeting the increasing demands of its global clientele while enhancing its operational capabilities and innovative solutions.
Mr. David Lim, CEO of UOB Kay Hian Securities (M) Sdn Bhd, commended Chemlite Innovation’s solid industry reputation, technical expertise, and clear growth strategy. He affirmed that the IPO would equip the Company with the resources needed to expand its service offerings and enhance its facilities, reinforcing its position as a market leader.
Chemlite Innovation is renowned for delivering high-quality surface finishing treatment solutions, supported by cutting-edge facilities at Penang Science Park. The Company’s continuous investments in cleanroom and automation technologies underscore its commitment to excellence and meeting stringent customer requirements. This IPO is expected to strengthen its market foothold and drive long-term sustainable growth.
UOB Kay Hian Securities (M) Sdn Bhd is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Chemlite Innovation’s IPO, ensuring a seamless listing process. The Company’s debut on the ACE Market is anticipated to enhance its industry reputation and unlock new expansion opportunities.
