CE Tech aims to raise RM12.48mil from listing


  • Business
  • Wednesday, 08 May 2019

CE Technology manufactures and sells nitrile and latex cleanroom gloves for high-end electronics and life sciences industries which require additional chemical and microbiological hazard protection.

TAIPING: Malaysia’s second largest cleanroom gloves exporter CE Technology Bhd aims to raise RM12.48mil from its listing exercise to mainly fund its expansion plans to meet growing global demand.

The company said in a statement that it has received Bursa Malaysia Securities Bhd’s approval to be listed on the Leading Entrepreneur Accelerator Platform (Leap) Market of Bursa Securities.

CE Technology manufactures and sells nitrile and latex cleanroom gloves that are targeted for niche markets such as the high-end electronics and life sciences industries, which require additional chemical and microbiological hazard protection.

Cleanroom gloves are mainly used to control contamination and prevent electrostatic discharge (ESD).

According to CE Technology, the listing entails a placement of 52 million shares, representing 15.02% of the company’s enlarged capital, to selected sophisticated investors at an indicative price of 24 sen per share, raising a total of RM12.48mil.

Upon its debut on the Leap Market, CE Technology is expected to have a market capitalisation of RM83.1mil.

Managing director and CEO Teoh Swee Sun said: “The growth in demand for cleanroom gloves is driven by the expansion of high-technology electronics industries such as wafer fabrication, mobile devices, flat panel display, media storage devices and aerospace as well as life sciences industries such as bio-technology, pharmaceutical, medical device and laboratory technology.

“These end-users operate in cleanroom environment and have stringent requirements.”

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CE Technology , nitrile , gloves , listing , shares , Teo Swee Sun , latex ,

   

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