Nanofilm Technologies launches IPO on SGX-ST’s Mainboard, market cap expected to be $1.71 bil
https://www.theedgesingapore.com/news/i ... ipo-sgx-st’s-mainboard-market-cap-expected-be-171-bil
Provider of nanotechnology solutions for smartphones and other electronics.
With computers and wearable devices its main revenue drivers and more than 70 per cent of sales coming from China, the company is set to benefit from the growing demand for digital devices amid Covid-19.
Nanofilm has more than 1,400 employees in offices in Singapore, Japan, China and Vietnam.
Its revenue climbed more than 40 per cent in the first half of the year, after growing 16 per cent in 2019, according to its IPO prospectus.
While the firm's main customers include Fuji Xerox, Microsoft and Huawei Technologies, it noted that the reliance on its largest client, a tech company it didn't disclose, could be a risk factor - it generated more than half of last year's sales.
The tech company saw earnings for the FY2020 increase 61.1% y-o-y to $57.6 million.
FY2020 revenue increased by 52.8% y-o-y to $218.3 million, as compared to $142.9 million a year ago, driven by its Advanced Materials and Nanofabrication Business Units.
As at end-December, cash and cash equivalents stood at $226.5 million.
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