MetaOptics Ltd, a Singapore-based designer and manufacturer of meta-optics components, has successfully completed its initial public offering (IPO) on the Catalist Board of the Singapore Exchange.
The IPO, which involved the placement of 30 million shares at $0.15 (S$0.20) each, was fully subscribed, raising $44m (S$60m).
The company has attracted a diverse group of investors, including Economic Development Innovations Singapore Pte Ltd, Emplify Capital Partners Pte Ltd, and notable individuals such as Alex Chan, founder of Plover Bay Technologies, and Walter de Oude, CEO of Chocolate Finance.
The company’s post-placement market capitalisation stands at $346m (S$471.9m). MetaOptics Ltd is the first pure-play metalens company to go public in Singapore, highlighting its pioneering role in the next-generation metalens supply chain.
The company utilises advanced technologies such as semiconductor processes and direct laser writing to produce glass-based colour metalenses, which are integrated into a variety of applications, including smartphones, augmented reality devices, and autonomous vehicles.
Executive Chairman and CEO Thng Chong Kim stated, “Our listing on SGXST marks a significant milestone for MetaOptics as we continue to accelerate our growth in the dynamic optics sector.”
The company plans to expand its product range and fabrication capacities, focusing on miniaturising devices and integrating metalenses into more applications.
MetaOptics Ltd has benefitted from the support of Singapore government agencies, particularly the Agency for Science, Technology and Research (A*STAR), which has been instrumental in the company’s research and development efforts. The company aims to leverage its proprietary technologies and enhanced visibility from the listing to expand into new markets and unlock strategic opportunities.“`
