Chemlite Innovation Berhad (“Chemlite Innovation” or the “Company”), an established engineering support services provider specialising in surface finishing treatment services, officially listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) today. The listing marks a significant milestone in the Company’s journey as it seeks to further strengthen its operational capabilities and support its long-term growth initiatives. Chemlite Innovation’s shares opened at RM0.23 per share, following its initial public offering (IPO) price of RM0.25 per share. Chemlite Innovation is listed under the stock name “CLITE” and stock code “0348.”
Established in 2007, Chemlite Innovation has grown into a trusted and recognised provider in the engineering support industry, offering both metal and non-metal plating services to key industries such as semiconductors, electrical and electronics, machinery, and equipment industries. Over the years, the Company has built a reputation for its strong technical expertise, stringent high-quality standards, and ability to meet the evolving needs of multinational and local customers.
Through its IPO, Chemlite Innovation successfully raised RM30.0 million. The proceeds will be allocated towards RM7.8 million to purchase a parcel of industrial land for the construction of an additional operating facility in Penang Science Park North to expand its operational capabilities, RM7.0 million to set up two cleanrooms to provide cleanroom cleaning and packaging services to support customers who require contamination-free environments, RM1.0 million to invest in automation machinery and equipment to upgrade and strengthen its operational capabilities, RM0.5 million to establish a dedicated Research & Development (R&D) department to drive innovation in its surface finishing treatment services, RM5.5 million to repay bank borrowings to strengthen the Company’s financial position, RM4.2 million for working capital to support ongoing operational growth, and RM4.0 million to cover costs related to the IPO process.
Mr. Choo Yih Woei, Independent Non-Executive Chairman of Chemlite Innovation Berhad, stated, “Today’s listing is a defining milestone for Chemlite Innovation, representing the culmination of years of dedication, strategic foresight, and collective perseverance. Our entry into the capital markets opens an exciting new chapter for Chemlite a chapter filled with greater opportunities, broader horizons, and higher expectations. This IPO enables us to enhance our capabilities, expand our reach, and deliver greater value to our customers. We remain committed to advancing our technical expertise, maintaining the highest industry standards, and positioning Chemlite Innovation as a leader in surface finishing treatment solutions.”
He added, “This listing serves as a vital platform for Chemlite Innovation to create greater value for our customers and stakeholders. We are confident that the proceeds raised will enable us to implement our strategic objectives and meet the evolving demands of our global customer base with our enhanced capabilities and innovation.”
Deputy Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, Ms. Anne Leh, added, “Chemlite Innovation’s successful listing is a testament to the Company’s strong fundamentals and strategic direction. Its commitment to innovation and quality has positioned it well for sustained growth, and we are proud to support its journey in becoming a publicly listed entity.”
The listing provides Chemlite Innovation with a strong platform to accelerate its growth trajectory, capitalising on the increasing demand for high-quality surface finishing treatment services. With its solid foundation and forward-looking strategies, Chemlite Innovation is well-prepared to scale new heights in the engineering support industry. UOB Kay Hian Securities (M) Sdn Bhd serves as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Chemlite Innovation, ensuring a smooth and successful listing process.
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