Mi Technovation to List Semiconductor Materials Business in Singapore; Shares Gain 3%
Mi Technovation (KLSE:MI) has applied to list its semiconductor materials business on the Singapore Exchange's Mainboard through an initial public offering of Mi Material, according to a Wednesday Taiwan Exchange filing.Shares rose about 3% in Thursday's afternoon trade.Mi Material will become the holding company for the group's semiconductor materials operations following an internal reorganization.The proposed IPO will include new and existing shares offered through an international placement, a Singapore public offering, a cornerstone offering, and an entitlement for Mi Technovation shareholders.Mi Technovation expects to retain about a 72.6% stake in Mi Material after the listing.The proposed listing is expected to be completed in the fourth quarter of 2026, subject to regulatory and shareholder approvals.
