IPO of global Facility Engineering in Singapore planned
Jenoptik subsidiary M+W Zander plans IPO for its worldwide engineering activities for the electronics industry on the Singapore Stock Exchange.
The Singapore Exchange Securities Trading Limited (SGX-ST) has issued a Letter of Eligibility to M+W Zander Facility Engineering Limited ("MWZ Singapore"), a wholly-owned subsidiary of M+W Zander Holding AG ("M+ W Zander"), for the listing and quotation of shares in MWZ Singapore on the Mainboard of SGX-ST (the "IPO"). As is common in Singapore, the listing on the SGX is subject to certain conditions.
DBS Bank Ltd., Singapore, has been appointed as lead manager for the IPO. It is contemplated that immediately following the IPO, M+W Zander will continue to hold a majority of the share capital of MWZ Singapore. M+W Zander had previously reorganised and divested its worldwide engineering activities relating to the planning, building and operating of fabs and facilities for the electronics industry under MWZ Singapore in autumn last year. This is intended to enable M+ W Zander to strengthen its worldwide facility engineering business in the electronics industry in Asia.
MWZ Singapore is a leading global provider of comprehensive facility engineering services for high technology manufacturing facilities and systems and is able to deliver a combination of services on a turnkey project basis. It provides services to a number of industries, including the semiconductor and flat panel industry, life science and photovoltaic industry as well as scientific research and development.
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