PETALING JAYA: Stratus Global Holdings Bhd is eyeing a listing on the Main Market of Bursa Malaysia.
The company is principally involved in the provision of factory automation solutions, specialising in cleanroom automated material handling system solutions.
In its prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 356.25 million new ordinary shares.
The company said proceeds from the IPO will be used for expansion of facilities, overseas business expansion and research and development expenditure.
“We plan to expand our overseas presence through the establishment of sales and engineering support offices in Asia, Europe and the USA.
“In view of the significance of these regions in the global semiconductor industry (in particular, Asia and Europe being amongst the leading global semiconductor manufacturing hubs) as well as the anticipated growing global demand for semiconductors, we have identified Japan, Taiwan, Germany and the USA as our target market and priority for our overseas expansion.”
By establishing a physical presence in these regions, Stratus Global said it is able to enhance its business visibility, strengthen its sales outreach and customer support capabilities and broaden its access to new opportunities in both front-end and back-end semiconductor markets internationally.
UOB Kay Hian (M) Sdn Bhd is the principal adviser for the company’s IPO.
