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Friday, October 23, 2020 – 4:33 pm
UPDATED Friday, October 23, 2020 – 5:17 pm
NANOFILM Technologies, the spin-off of Nanyang Technological University (NTU), presented its final prospectus on Friday, offering 77.2 million shares at S $ 2.59 each for placement in its initial public offering (IPO).
The shares, which will be traded on the motherboard, comprise around 73.4 million shares in the international offering and 3.9 million shares in the Singapore public offering, representing approximately 11.7 percent of capital. Nanofilm’s expanded company post-IPO of 658.4 million shares.
Based on its placement price, Nanofilm’s market capitalization will be approximately S $ 1.7 billion after placement. The public offering opens at 6 p.m. on October 23 and will close at noon on Wednesday.
The gross revenue collected from the IPO will be around S $ 470.1 million. However, only S $ 190.9 million raised from the issuance of new fundamental shares will go to the company.
The net proceeds owed to the company will be used for the development and construction of new machinery and for research and development and engineering in order to enter new end industries and seek new areas in existing markets. It will also be used for the construction, renovation and renovation of new and existing production facilities and for general corporate and working capital purposes.
The company, which specializes in advanced materials and nanoproducts, was founded in 1999 by CEO Shi Xu when he was an associate professor at NTU’s School of Electrical and Electronic Engineering.
The company’s 13 core investors include Temasek Holdings’ indirect wholly owned subsidiary Venezio Investments, certain funds advised by Capital Research and Management Company, the Employees Provident Fund Board, Aberdeen Standard Investments (Asia), AIA Investment Management Private and Lion. Global Investors.
Each of them has entered into separate fundamental agreements with either the company or Dr. Shi to subscribe or purchase a total of about 104 million fundamental shares at the offer price. Dr. Shi will sell some 27 million shares in addition to the 77.2 million new shares issued by the company.
Temasek will also become a major shareholder in the company upon completion of the offering and sale of the core shares.
Dr. Shi said, “As a local company, we are pleased to be able to offer this opportunity for investors to participate in our future growth journey. We are also encouraged by the support and vote of confidence of our fundamental investors as we continue to expand. and strengthen our presence on the global platform. “
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