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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