Singapore-headquartered precision engineering company Metasurface Technologies Holdings has completed a dual primary listing on the Singapore Exchange’s Catalist board, with its shares starting to trade on Nov 4, TNGlobal reported. The company has been listed on the GEM board of the Hong Kong Stock Exchange since July 2024.
Trading under the stock code MET, the shares opened at the placement price of S$0.54 and closed the first Singapore session at S$0.56, up about 3.7%. At that closing price, the company’s implied market value was about S$93.3 million, based on an enlarged share capital of about 166.6 million shares.
Placement fully subscribed
Metasurface placed 18 million new shares at S$0.54 each, raising gross proceeds of about S$9.72 million, according to its post-listing announcement filed with SGX. The placement was fully subscribed and allocated to 335 placees.
Anchor investors Lion Global Investors, Asdew Acquisitions, Manulife Investment Management Singapore, Amova Asset Management Asia and ICH Synergrowth Fund together took up about 13.96 million shares worth around S$7.54 million, or roughly 77.6% of the placement shares.
Net proceeds of about S$7.28 million after listing expenses will go towards business expansion, including additional advanced machinery and software (S$6 million), quality-control capabilities (S$1 million) and working capital (S$280,000). UOB Kay Hian acted as sponsor, issue manager and placement agent.
Semiconductor-focused business
The company provides precision machining and welding services, mainly to semiconductor customers, and also serves the aerospace and data-storage sectors. It runs production facilities in Singapore and Johor, Malaysia, with about 70 CNC machines. The semiconductor sector accounted for about 95% of group revenue in the first half of 2026.
For the six months ended June 2026, revenue rose 8.9% to S$27 million from S$24.8 million. Net profit fell 57.7% to S$3.7 million from S$8.8 million, as the earlier period included a one-off remeasurement gain of S$6.4 million.
As at June 30, Metasurface held purchase orders worth S$46.3 million, which it expects to fulfil by March 31, 2027.
