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Money News

Singapore's Nanofilms launches IPO, seeks to raise up to $375 million - sources

A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during "circuit breaker" measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su/Files

SINGAPORE (Reuters) - Singapore’s Nanofilms Technologies International launched an initial public offering (IPO) on Friday, which three sources with knowledge of the matter said could raise up to S$510 million ($375.4 million).

If successful, it will be the Singapore Exchange’s biggest listing in recent years, excluding offerings from real estate investment trusts and business trusts.

The sources declined to be identified because they are not authorised to speak to the media.

A spokeswoman for Nanofilms, which makes coating materials for products including smartphones and televisions, declined to comment on the fundraising.

Reporting by Anshuman Daga; Editing by David Goodman

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