The company, which specialises in advanced materials and nanoproducts, was founded in 1999 by executive chairman Shi Xu when he was an associate professor at NTU's School of Electrical and Electronic Engineering.
The company's 13 cornerstone investors include indirect wholly owned subsidiary of Temasek Holdings, Venezio Investments, certain funds advised by Capital Research and Management Company, the Employees Provident Fund Board, Aberdeen Standard Investments , AIA Investment Management Private and Lion Global Investors.
They have each entered into separate cornerstone agreements with the company or with Dr Shi to subscribe for or purchase an aggregate of around 104 million cornerstone shares at the offer price. Some 27 million shares will be sold by Dr Shi on top of the 77.2 million new shares issued by the company.
Temasek will also become a substantial shareholder in the company following the completion of the offering and the sale of cornerstone shares. Dr Shi said:"As a home-grown company, we are pleased to be able to offer this opportunity to investors to participate in our future growth journey. We are also heartened by the support and vote of confidence from our cornerstone investors as we continue to expand and strengthen our presence on the global platform."For daily updates on weekdays and specially selected content for the weekend.