NTU spin-off firm Nanofilm may raise up to $376m in Singapore IPO
Article summary
Nanyang Technological University’s (NTU) spin-off company Nanofilm Technologies is heading for a mainboard listing on the Singapore Exchange, with Temasek Holdings as a substantial shareholder,” the Business Times reported. The company could raise up to S$510 million (US$376 million) in the initial public offering, which could become one of the largest “ non-Reit ” mainboard listings in recent years, according to Reuters , which cited sources familiar with the matter. […] As a result, Temasek will become a substantial shareholder in the company. […] It currently operates in Singapore, China, Japan, and Vietnam, serving 300 customers such as Fuji Xerox, Nikon, Canon, Microsoft, and Huawei. It recorded S$18.5 million (US$13.6 million) in net profit for the first half of 2020, up 62.3% from S$11.4 million (US$8.4 million) a year ago.
