[SINGAPORE] Home-grown semiconductor optics startup MetaOptics intends to raise some S$6 million in gross proceeds from its initial public offering (IPO), as it issues 30 million placement shares at S$0.20 apiece.
The company said on Monday (Sep 1) that trading of its shares is expected to begin on the Catalist board of the Singapore Exchange on Sep 9. The placement will bring the company’s outstanding shares to more than 235 million in number, translating to a market capitalisation of about S$47.2 million.
The vertically integrated designer and manufacturer of meta optics components and products on Monday registered its offer document for the proposed placement and listing of its ordinary shares.
Zico Capital is the sponsor, issue manager and placement agent for the IPO.
MetaOptics said it is the first pure-play meta-lens company to seek a public listing.
The company, established in 2021, added that the net proceeds it is seeking to raise from the placement will amount to some S$4 million after deducting related commissions and estimated expenses.
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It intends to use the proceeds primarily for product development, research and development (R&D), as well as strategic partnerships. In addition, the money will be used for business expansion, through “organic growth, mergers and acquisitions, joint ventures and/or strategic partnerships”.
The funds will also go towards working capital and general corporate purposes, said the company.
On its business strategies and future plans, MetaOptics said it intends to drive growth by focusing on miniaturising devices and integrating meta-lenses into a wider range of applications for smart devices, optical sensors, smart glasses, autonomous vehicles, as well as augmented or virtual reality displays.
The company will introduce a new laser with a “pulsing feature to enable faster, customised mould production”.
It added that its R&D efforts will target the “development of tuneable meta-lenses and strategic collaborations with customers and overseas innovation hubs”.
Said MetaOptics’ executive chairman and chief executive, Mark Thng: “With secured purchase orders and increasing design wins, we believe we are well placed to capture the rapidly expanding market in smart devices, IoT (internet of things), and next-generation optical systems.”
“Looking ahead, supported by favourable industry prospects, our trusted partners in the ecosystem as well as our proven capabilities, we are confident that MetaOptics will continue to lead in innovative, high-performance optical solutions for next-generation applications, capable of delivering sustainable growth and long-term value to our shareholders.”
MetaOptics is headquartered in Singapore, at the JTC LaunchPad.
The company on Jul 30 lodged its preliminary prospectus for the Catalist listing.
The Business Times earlier reported that the company posted a net loss of S$2.3 million on a revenue of S$79,440 for FY2024. This followed net losses of S$1.2 million for FY2023, and S$1.1 million for FY2022.
For the first quarter of 2025, its net loss was S$706,391.
Back in May, MetaOptics was one of three companies to bag top honours at BT’s inaugural Design AI and Tech Awards, a competition that aims to spur innovators to harness design and technology to develop groundbreaking solutions that tackle real-life business challenges.
