KUALA LUMPUR: Semiconductor automated material handling system (AMHS) solutions provider Stratus Global Holdings Bhd has launched its prospectus for its Main Market initial public offering (IPO), aiming to raise RM285mil.
In a statement, Stratus Global said the IPO involves the issuance of 356.25 million new shares at an issue price of 80 sen each, giving the company a market capitalisation of RM1bil based on an enlarged share capital of 1.25 billion shares.
The proceeds from the IPO will be used to expand its manufacturing facilities, including the construction of a new plant in Penang with an allocation of RM122.6mil, overseas business expansion with RM20mil, research and development with RM45mil, working capital with RM82.4mil, and RM15mil for listing expenses.
The IPO comprises only new shares, with no offer for sale by existing shareholders.
Established in 1998, Stratus Global provides end-to-end AMHS solutions for semiconductor manufacturers, covering design, fabrication, installation and commissioning.
Its customer base includes multinational semiconductor companies in Malaysia and overseas markets across Asia, Europe and North America.
Executive director and chief executive officer Ryo Narisawa said the IPO would support the group's next phase of growth.
"The launch of our Prospectus marks a significant milestone for Stratus Global as we prepare for our listing on the Main Market of Bursa Malaysia Securities Berhad.
“This IPO provides a strong platform to execute our next phase of growth by expanding our manufacturing capabilities, advancing innovation through research and development, and strengthening our presence in key international semiconductor markets."
Applications for the IPO open today and close on July 10. Stratus Global is scheduled to be listed on the Main Market of Bursa Malaysia on July 21.
UOB Kay Hian (M) Sdn Bhd is the principal adviser, underwriter and placement agent for the IPO.
