KUALA LUMPUR (July 2): Factory automation firm Stratus Global Holdings Bhd has launched its Main Market listing that will raise RM285 million to fund expansion at home and abroad.
The initial public offering (IPO) is priced at 80 sen per share and involves the issuance of new shares, according to its prospectus. There is no accompanying offer for sale of existing shares, meaning that existing shareholders are not cashing out their stakes in the company.
Applications close on July 10, with the company scheduled to list on July 21.
Based in Penang, Stratus Global specialises in automated material handling systems. The company mainly caters to the semiconductor industry where its systems transfer and store critical materials, such as silicon wafers, within cleanrooms or other controlled environments.
The company has more than 44,000 sq ft of production floor space at its two factories in Bayan Lepas which are currently operating near to full capacity.
Stratus Global will use about RM122.6 million of the IPO proceeds to expand its facilities, RM45 million for research and development, RM20 million for overseas business expansion, RM82.4 million for working capital. The rest will be used to cover listing expenses.
Stratus Global will have a market capitalisation of RM1 billion upon listing. The IPO price values the company at a little under 20 times its latest earnings, below the comparable peer average of about 35 times.
In the 12 months ended March 2026, net profit fell 23% to RM51 million from a year earlier amid higher expenses. Revenue declined 11% to RM197 million following the completion of several high-value contracts as well as depreciation of US dollar against the ringgit.
The company was founded in 1998 in the US by Ryo Narisawa, a 72-year-old Japanese who now serves as its CEO. Post-IPO, he will hold a direct stake of 3.1% in Stratus Global and another 41.6% through a private vehicle Jiyuan Holding Sdn Bhd.
UOB Kay Hian (M) Sdn Bhd is the principal adviser, underwriter and placement agent for the IPO.