Nanofilm Technologies launches IPO on SGX-ST motherboard, market capitalization expected to be $ 1.71 billion

Nanofilm Technologies, the local provider of nanotechnology solutions, launched its initial public offering (IPO) on the motherboard of the Singapore Stock Exchange (SGX-ST) on October 23, making it the first of its kind. in the industry to be listed. at SGX-ST. The company’s IPO saw 77,236,200 shares launched at $ 2.59 each. Of the shares, the company will undertake an international placement of 73,374,300 and will offer shares to investors, including institutional and other investors in Singapore, outside the U.S. An offering of 3,861,900 shares will be offered through a public offering in Singapore. Nanofilm says it expects about $ 452.5 million to be raised from the offer, issue and sale of the fundamental shares. The fundamental shares are a total of 104,256,100 shares that were part of separate fundamental agreements with Nanofilm, Nanofilm CEO Dr. Shi Xu, and 15 other investors including Credit Suisse AG, Fullerton Fund Management and Lion Global Investors. Upon completion of the offering, issuance and sale of the fundamental shares, the total number of issued and outstanding Nanofilm shares will be 658,351,110 shares, with an expected market capitalization of $ 1,705 million. The offer will close at 12pm on October 28. The listing and trading of Nanofilm shares is expected to begin “Ready” at 9am on October 30. Shi says: “Since our founding, we have come a long way, developing our technology and developing our production capabilities and capabilities. By leveraging our proprietary nanotechnology, we have achieved great success and are now integrated into production supply chains. and product development for our customers and we remain a long-term reliable partner for our customers. ” “As a local company, we are pleased to be able to offer this opportunity for investors to participate in our future growth journey,” adds Shi. Credit Suisse (Singapore) and Oversea-Chinese Banking Corporation Limited (OCBC) are the joint issuance managers, and Citigroup Global Markets, Credit Suisse as joint global coordinators for the offering. Citigroup, Credit Suisse, CLSA Singapore and OCBC are the joint book brokers and underwriters of the offering. For 1SFY2020 ending in June, Nanofilms posted revenue of $ 77.8 million, posting a 41% year-on-year growth. Its Adjusted EBITDA increased 63% YoY to $ 33.2 million for the same period.
See: Nanofilm Technologies Seeks to Raise $ 470 Million in Singapore IPO