Chemlite Innovation Berhad (“Chemlite Innovation” or the “Company”), a prominent provider of engineering support services specializing in surface finishing treatment, has officially launched 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 generate RM30 million through the issuance of 120,000,000 new shares, with the proceeds strategically directed toward business expansion and operational enhancement. Key focus areas include:
- Expanding Operational Capabilities: Plans include constructing a new operating facility, establishing cleanrooms, investing in advanced machinery and equipment, and setting up a dedicated research and development (“R&D”) department.
- Strengthening Working Capital: The additional funds will support business growth and operational sustainability, ensuring the Company’s long-term success.
Mr. Chong Yuen Fong, Executive Director and CEO of Chemlite Innovation Berhad, highlighted that the IPO marks a crucial milestone for the Company. He emphasized that the funds will be used to expand anodising services and establish a new facility to boost production capacity. This expansion will enable the Company to strengthen its market position, particularly within the semiconductor, electrical, and electronics industries.
Echoing this sentiment, Mr. Heng Chee Khiang, Executive Director and COO, stated that the listing will enhance the Company’s ability to deliver greater value to customers and stakeholders. He expressed confidence that the raised capital will support innovation and meet the evolving demands of global clients.
Mr. David Lim, CEO of UOB Kay Hian Securities (M) Sdn Bhd, praised Chemlite Innovation for its strong track record, technical expertise, and well-defined growth strategy. He affirmed that the IPO will provide crucial resources for the Company to expand its services and facilities, further strengthening its leadership in the industry.
Chemlite Innovation is recognized for delivering high-quality surface finishing treatment solutions, backed by advanced facilities at Penang Science Park. Its ongoing investments in cleanroom and automation technology reinforce its commitment to excellence and customer satisfaction. Through this IPO, the Company aims to solidify its market presence and drive sustainable growth.
UOB Kay Hian Securities (M) Sdn Bhd serves as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Chemlite Innovation’s IPO, ensuring a smooth and successful listing process. The Company’s ACE Market debut is expected to further elevate its reputation and unlock new opportunities for expansion.
