Mi Material's SG$215 Million IPO Subscribed 2.1 Times

MT Newswires10-28 13:41

Mi Material (SGX:MIM) attracted subscriptions and indications of interest worth approximately SG$294 million for its initial public offering in Singapore, representing 2.1 times the shares available, ahead of its expected debut on the Singapore Exchange's Mainboard on Wednesday.

The semiconductor materials supplier offered 77.5 million shares at SG$1.80 each. The international offering was approximately 2.2 times subscribed, while the Singapore public offering was 1.3 times subscribed.

Together with a separate placement of 41.94 million new shares to seven cornerstone investors, the IPO represents an aggregate transaction value of approximately SG$215 million.

Mi Material expects a market capitalisation of about SG$891 million upon listing.

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