Chemlite Innovation Berhad, a company specializing in surface finishing treatment services, has officially been listed on the ACE Market of Bursa Malaysia Securities Berhad. This marks an important milestone in the company’s journey as it aims to improve its operations and support long-term growth. The company’s shares opened at RM0.23 per share, slightly below its initial public offering (IPO) price of RM0.25 per share.
Trading under the stock name “CLITE” and stock code “0348,” Chemlite Innovation has been in the industry since 2007. The company provides metal and non-metal plating services to industries such as semiconductors, electrical and electronics, machinery, and equipment. Over the years, it has earned a strong reputation for its technical expertise, high-quality standards, and ability to meet the needs of both multinational and local customers.
With its IPO, Chemlite Innovation successfully raised RM30.0 million. The funds will be used to expand operations, including purchasing industrial land in Penang Science Park North to build a new facility. The company also plans to set up two cleanrooms to offer contamination-free cleaning and packaging services. Some of the funds will go toward upgrading machinery, establishing a Research & Development department, repaying bank loans, and covering IPO-related costs. Part of the funds will also be used as working capital to support ongoing operations.
Independent Non-Executive Chairman, Mr. Choo Yih Woei, described the listing as a major achievement, reflecting years of hard work and strategic planning. He said this step will open new opportunities, expand the company’s reach, and create more value for customers. He also emphasized the company’s commitment to advancing technical expertise and maintaining top industry standards.
Ms. Anne Leh, Deputy Chief Executive Officer of UOB Kay Hian Securities, stated that Chemlite Innovation’s strong fundamentals and clear vision contributed to its successful listing. She expressed confidence that the company is well-positioned for continued growth, thanks to its commitment to quality and innovation.
With this listing, Chemlite Innovation is set to expand further and meet the growing demand for high-quality surface finishing services. The company has a strong foundation and clear strategies to move forward in the engineering support industry. UOB Kay Hian Securities played a key role in the process as the Principal Adviser, Sponsor, Underwriter, and Placement Agent, ensuring a smooth and successful listing.
