KUALA LUMPUR, 5 MARCH 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”).
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 Chemlite Innovation 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.
