Malaysia's Mi Technovation weighs listing of semiconductor material business on SGX

Reuters03-02 18:02

Malaysia's Mi Technovation weighs listing of semiconductor material business on SGX

March 2 (Reuters) - Malaysia's Mi Technovation MITE.KL said on Monday it was considering a separate listing of its semiconductor material business on the Singapore Exchange.

The proposed listing is still at a preliminary stage, with details yet to be determined, Mi said in a statement. The move is expected to provide the company and the segment a more diverse fundraising platform and increase financial flexibility.

Mi's board has also appointed Singapore's Oversea-Chinese Banking Corp OCBC.SI as the issue manager and bookrunner for the proposed listing.

Singapore led Southeast Asia's initial public offering market in 2025, raising about $1.6 billion through nine deals. The city-state's central bank has also rolled out initiatives to revive the equities market and attract more companies to list.

Mi Technovation, a semiconductor equipment and maintenance services provider, has a market capitalisation of around $665 million, as of last close.

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Shilpi Majumdar)

((Nikita.Jino@thomsonreuters.com))

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