KUALA LUMPUR, MALAYSIA / ACCESS Newswire / March 5, 2025 / Chemlite Innovation Berhad ("Chemlite Innovation" or the "Company"), an established engineering support services provider specialising in surface finishing treatment services, is pleased to announce the launch of its prospectus in conjunction with the Company's Initial Public Offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").
From L-R:
Mr. Tan Meng Kim ?????, Managing Director, Capital Markets of UOB Kay Hian Securities (M) Sdn Bhd
Mr. Chong Yuen Fong ?????, CEO and Executive Director of Chemlite Innovation Berhad
Mr. Heng Chee Khiang ?????, COO and Executive Director of Chemlite Innovation Berhad
Mr. Goh Yao Yen ???, Director, Co-Head of Corporate Finance of UOB Kay Hian Securities (M) Sdn. Bhd.
The IPO is expected to raise RM30 million through the issuance of 120,000,000 new shares. The proceeds from the IPO will be strategically allocated for business expansion with key focus to:-
Expand operational capabilities, including the construction of an additional operating facility, setup of cleanrooms, investment in advanced machinery and equipment and establish a dedicated research and development ("R&D") department; and
Strengthen working capital to support business growth and operational needs.
Mr. Chong Yuen Fong, Executive Director and CEO of ChemliteInnovation Berhad, shared, "The launch of our prospectus marks a pivotal chapter in Chemlite Innovation's journey. This IPO signifies our commitment to expanding our capabilities and continue to drive innovation in surface finishing treatment solutions. With the proceeds, we are bringing our strategic plans closer to realisation with the expansion of our anodising services and strengthening our presence in the metal plating segment through the construction of an additional facility. This new facility, with increased capacity, will enable us to capture greater market share and further establish ourselves as a established and trusted partner in surface finishing treatment solutions, primarily serving the semiconductor and electrical and electronics industries."
Mr. Heng Chee Khiang, Executive Director and COO of Chemlite Innovation Berhad, added that, "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 client base with our enhanced capabilities and innovation."
Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, Mr. David Lim commented, "Chemlite Innovation's expertise in surface finishing treatment services, coupled with its established reputation, technical capabilities and growth plans, makes it an attractive prospect for investors. This IPO will provide the Company with the resources to enhance its facilities and expand its service offerings, ensuring it remains a leader in its industry."
Chemlite Innovation has a proven track record of delivering quality surface finishing treatment solutions, supported by its cutting-edge facilities at Penang Science Park. The Company's ongoing investments in cleanroom and automation technologies reflect its dedication towards operational excellence and meeting stringent customer requirements. With this IPO, Chemlite Innovation aims to further strengthen its market presence and position itself for long-term growth.
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. The Company's ACE Market debut is anticipated to further solidify its reputation and unlock new growth opportunities.
ABOUT CHEMLITE INNOVATION BERHAD
Chemlite Innovation Berhad ("Chemlite Innovation" or the "Company") is a leading engineering support services provider, specialising in surface finishing treatment services. Incorporated in Malaysia, Chemlite Innovation focuses on delivering innovative metal plating and non-metal plating solutions for diverse industries, including semiconductor, electrical and electronics, machinery and equipment, life science and medical technology and automotive sectors. With its advanced technical capabilities, state-of-the-art facilities in Penang Science Park, and a commitment to quality and innovation, Chemlite Innovation has earned its reputation as a trusted global vendor, catering to both local and multinational clients.
For more information, visit https://www.chemlite.com.my/.
Issued By: Swan Consultancy Sdn Bhd on behalf of Chemlite Innovation Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
William Yeo
Email: w.yeo@swanconsultancy.biz
SOURCE: Chemlite Innovation Berhad
View the original press release on ACCESS Newswire
