MetaOptics is the next company to list on the Singapore Exchange with an offer to sell 30 million shares in an all placement offering at 20 cents each, raising gross proceeds of $6 million and net proceeds of some $4 million.
With a total base of more than 235.96 million shares, the company will have a market capitalisation of around $47.2 million.
MetaOptics plans to use the proceeds for product development, research & development, and strategic partnerships.
It is also eyeing business expansion through organic growth, mergers and acquisitions, joint ventures and/or strategic partnerships.
The Singapore-based company is established in 2021 and describes itself as a vertically integrated designer and manufacturer of meta optics components and products. It says it is the first pure-play metalens company to seek a public listing.
MetaOptics says it is different from competitors by utilising the semiconductor process and direct laser writing technologies, to pioneer glass-based colour metalenses and support mass production possibilities.
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Its products are designed for use in smartphones, laptops, contactless three-dimensional biometrics modules, projectors, augmented reality / virtual reality devices, and industrial applications such as Light detection and ranging (“LiDAR”) systems, and heads-up display for aircraft and autonomous vehicles.
Citing the Independent Market Report, the global optical metalens market is expected to expand at a CAGR of 74.8% from 2024 to 2029, with the total market size projected to reach US$493 million by 2029 with consumer electronics a key driver.
"Our breakthrough meta-optics solutions, including new forms such as rectangular metalens and miniaturised colour camera, are already reshaping how smart devices capture, sense, and interpret the world," says executive chairman and CEO Mark Thng.
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"With secured purchase orders and increasing design wins, we believe we are well-placed to capture the rapidly expanding market in smart devices, IoT, and next-generation optical systems," he adds.
Thus far, the company’s revenue is not significant and it remains in the red. It recorded $79,440 in sales for FY2024 and net loss reached $2.34 million, widening from $1.23 million in losses recorded in the preceding FY2023. In the most recent 3MFY2025, it reported a revenue of $52,648 while reporting a net loss of $706,391.
Besides staff costs, MetaOptics has been spending relatively heavily on R&D. Between FY2022 and FY2024, it spent a total of $444,723 on R&D and in its 3MFY2025, another $33,434 was spent.
Trading of the shares will begin at 9am on Sept 9. ZICO Capital is the sponsor, issue manager and placement agent for the IPO
