METASURFACE (08637.HK): Singapore Listing Placing Raises S$7.28m Net
NewTimeSpace News: On 3 November 2026, Metasurface Technologies Holdings Limited (stock code: 08637) announced that all conditions under the placing mandate had been fulfilled and that the placing agent had placed an aggregate of 18,000,000 placing shares. Completion of the placing took place on 3 November 2026. The placing shares were allotted and issued at S$0.54 (equivalent to HK$3.31) per placing share to not less than 200 placees. To the best of the Directors' knowledge, information and belief after all reasonable enquiries, the placees and their respective ultimate beneficial owners are independent third parties, and none of the placees became a substantial shareholder of the Company upon completion.
Gross proceeds amounted to about S$9.72 million and net proceeds, after deducting placing commission and other expenses, are estimated at about S$7.28 million, representing a net price of about S$0.40 per placing share. The Company intends to apply about 61.7% to fund its business expansion, including the acquisition of 5-axis machines and other advanced machinery and software, 10.3% to strengthen quality control capabilities, 2.9% for general working capital and 25.1% for listing expenses.
On shareholding, immediately upon completion, Dato' Sri Chua, together with the interests held through his controlled corporation SGP BVI and by his spouse Mrs. Chua through Baccini, holds 77,177,814 shares, with the stake diluted from 51.9% to 46.3%; Mr. Soh Cheng Joo holds 9,905,369 shares, down from 6.7% to 5.9%; the placees hold 18,000,000 shares, or 10.8%; other public shareholders hold 61,453,817 shares, down from 41.4% to 36.9%; and total shares increase from 148,617,000 to 166,617,000. The shares are expected to commence trading on the Catalist Board of SGX on a "ready" basis at 9:00 a.m. on 4 November 2026, subject to SGX being satisfied that all necessary conditions for the commencement of trading have been fulfilled.
