PETALING JAYA: MI Technovation Bhd
(MiTB) has submitted a listing application to the Singapore Exchange Securities Trading Ltd to list its semiconductor material business unit, Mi Material Holding Pte Ltd, on the Mainboard of the Singapore Exchange.
In a filing with Bursa Malaysia, MiTB said the proposed listing will enable the company to unlock and crystallise the value of its investment in Mi Material through a transparent market-driven valuation.
“This will also facilitate price discovery for MiTB’s remaining stake in Mi Material and is expected to enhance overall value for MiTB’s shareholders.”
After the proposed listing, MiTB said it will retain a substantial equity interest of approximately 72.61% in Mi Material. The listing will enable Mi Material to gain recognition and corporate stature through the listing status of its own.
