Mi Material Holding Limited, a global leader in precision solder spheres for semiconductor packaging, is set to debut on the SGX Mainboard on 28 October 2026 after raising S$215m through its initial public offering (IPO). The offering, which attracted significant interest, was oversubscribed by 2.2 times, with total subscriptions reaching approximately S$305m.
The IPO, supported by seven cornerstone investors including abrdn Asia Limited and Manulife Investment Management, positions Mi Material among Singapore’s largest semiconductor IPOs in over 20 years. At an offering price of S$1.80 per share, the company is expected to have a market capitalisation of approximately S$891m upon listing.
Mi Material’s CEO, Kevin Tan, expressed gratitude for the investor support, stating, “This marks an important milestone for Mi Material and reflects the progress we have made in establishing our position within the global semiconductor supply chain.”
The company reported strong financial growth in the first half of 2026, with revenue more than doubling to $53.7 million and net profit rising to $14.3 million. Preliminary estimates for the third quarter of 2026 indicate continued momentum, with revenue expected to increase by 15.6% quarter-on-quarter to $37.8 million.
Mi Material plans to use the IPO proceeds to expand its R&D capabilities and manufacturing capacity, including establishing new facilities in the US and Singapore. Trading on the SGX Mainboard is scheduled to commence at 2.00 p.m. on 28 October 2026 under the stock code “MIM”.
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