ACE Market-bound Minox to raise RM23mil from IPO

Part of the proceeds from Minox’s upcoming IPO will be used for product development, and to build new warehouses in Puchong, Selangor, and in Singapore.

The stainless-steel sanitary valves, tubes and fittings supplier said the majority or 57.9% of the proceeds will be utilised for the group’s business growth. Having ventured into the semiconductor sector in 2020, Minox’s semiconductor segment contributes about 6% to its revenue. In tandem with the impending listing, Minox has charted a three-pronged growth strategy. The first step is to strengthen its presence in the semiconductor industry where has “great potential”.

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