MetaOptics sees strong support in IPO from a broad range of investors

Shares were fully subscribed and raised gross proceeds of $6m.

Singapore-based semiconductor optics firm MetaOptics saw strong interest in its initial public offering (IPO), with total demand for its 30 million shares being fully subscribed.

MetaOptics’ placement of 30 million shares at $0.20 each raised total gross proceeds of $6m.

The IPO and placement attracted subscriptions from various institutional and retail investor groups, including Economic Development Innovations Singapore (EDIS), principals of Emplify Capital Partners, Alex Chan, founder of Plover Bay Technologies, Walter de Oude, founder and CEO of Chocolate Finance, and Elsoft Systems.

There were 209 placees, with five of them holding 15.5 million shares combined.

Based on the placement price and the post-placement share capital of the company, the company’s post-placement market capitalisation is $47.19m.