Stratus Global eyes foreign expansion upon listing

PETALING JAYA: Stratus Global Holdings Bhd is eyeing a listing on the Main Market of Bursa Malaysia.

The company is principally involved in the provision of factory automation solutions, specialising in cleanroom automated material handling systems.

In its prospectus launch, the company said its initial public offering (IPO) will entail the public issue of 356.25 million new ordinary shares.

The company said proceeds from the IPO will be used for expansion of facilities, overseas business growth, and research and development expenditure.

“We plan to expand our overseas presence through the establishment of sales and engineering support offices in Asia, Europe and the United States.

“In view of the significance of these regions in the global semiconductor industry, especially with Asia and Europe being among the leading global semiconductor manufacturing hubs, as well as the anticipated growing global demand for semiconductors, we have identified Japan, Taiwan, Germany and the United States as target markets and priorities for our overseas expansion,” the company said in a statement

By establishing a physical presence in these regions, Stratus Global said it would be able to enhance its visibility, strengthen its sales outreach and customer support capabilities and broaden its access to new opportunities in both front-end and back-end semiconductor markets internationally.

Stratus Global said it intends to broaden its market coverage in line with the projected expansion of the global semiconductor industry.