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02-11-2026, 05:10 PM
Mi Material Holding is the latest company to IPO and tap the EQDP (anchor investors include AMOVA Asset Mgt, Manulife Investment Mgt and Fullerton Fund Mgt which have all gotten EQDP funds). It is a subsidiary of Bursa Msia listed Mi Technovation Berhad.
Before IPO, parent Mi Technovation Berhad issued some shares to its existing shareholders, before selling some vendor shares and raising new equity at 1.80sgd per share. Post IPO, parent Mi Technovation Berhad would continue to own ~72.7% of Mi Material Holding.
The sequence of events in just a few days after IPO is interesting to note:
28th Oct: Started trading at 2pm and closed the day relatively flat
30th Oct: Plunged ~15% and stabilizing Mgr used up all 5mil shares by noon.
30h Oct: Controlling shareholder of Parent (Mr Oh) bought ~270k sgd worth of shares at avg price~1.55sgd on his own account.
IPO prospectus: https://links.sgx.com/FileOpen/Mi%20Mate...ileID=6809
Stabilizing Mgr ending their action: https://links.sgx.com/1.0.0/corporate-an...6dd07cf738
Chairman Oh buying: https://links.sgx.com/FileOpen/_Form%201...eID=909963
Before IPO, parent Mi Technovation Berhad issued some shares to its existing shareholders, before selling some vendor shares and raising new equity at 1.80sgd per share. Post IPO, parent Mi Technovation Berhad would continue to own ~72.7% of Mi Material Holding.
The sequence of events in just a few days after IPO is interesting to note:
28th Oct: Started trading at 2pm and closed the day relatively flat
30th Oct: Plunged ~15% and stabilizing Mgr used up all 5mil shares by noon.
30h Oct: Controlling shareholder of Parent (Mr Oh) bought ~270k sgd worth of shares at avg price~1.55sgd on his own account.
IPO prospectus: https://links.sgx.com/FileOpen/Mi%20Mate...ileID=6809
Stabilizing Mgr ending their action: https://links.sgx.com/1.0.0/corporate-an...6dd07cf738
Chairman Oh buying: https://links.sgx.com/FileOpen/_Form%201...eID=909963
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.
