MetaOptics Ltd Registers Offer Document on its Listing on SGX Catalist

PRNewswire

Singapore, September 1: MetaOptics Ltd (the "Company", together with its subsidiary, the "Group"), a cutting-edge vertically integrated designer and manufacturer of meta optics components and products headquartered in Singapore, has registered its offer document today in connection with the proposed placement (the "Placement") and listing of its ordinary shares in the capital of the Company on the Catalist Board ("Catalist") of the Singapore Exchange Securities Trading Limited ("SGX-ST") ("IPO"). The Group has set itself apart from its competitors, by utilising the semiconductor process and direct laser writing technologies, to pioneer glass-based colour metalenses and support mass production possibilities.

The Placement comprises 30,000,000 placement shares ("Placement Shares") at S$0.20 per share. The trading of the Company's shares is expected to commence on a "ready" basis at 9.00 a.m. on 9 September 2025. ZICO Capital Pte. Ltd. ("ZICO Capital") is the Sponsor, Issue Manager and Placement Agent for the IPO.

Established in 2021, the Group is the first pure-play metalens company to seek a public listing, underscoring its readiness to redefine the next-generation metalens supply chain for leading technology companies across a wide range of industries. Positioned at the intersection of emerging trends in photonics and nanofabrication, the Group designs and manufactures metalenses and metalenses prototypes, including metalens, metalens camera modules, metalens manufacturing equipment, and metalens Internet of Things ("IoT") devices such as infrared metalens cameras, pico projectors and IoT colour cameras. These metalenses are designed for integration into smartphones, laptops, contactless three-dimensional ("3D") biometrics modules, projectors, augmented reality / virtual reality ("AR/VR") devices, and industrial applications such as Light detection and ranging ("LiDAR") systems, and heads-up display ("HUD") for aircraft and autonomous vehicles.

Market Outlook

According to 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$493.0 million by 2029. Consumer electronics will remain the dominant sector, followed by automotive and security applications. Meanwhile, in Singapore, a regional hub for research and development ("R&D") and electronics manufacturing, the country saw a growth in the optical metalens market from US$1,245 in 2019 to US$86,777 in 2024, with a projected growth to US$2.4 million by 2029 with a CAGR of 93.7% from 2024 to 2029. This trajectory reinforces Singapore's strategic focus and strong institutional support in the R&D ecosystem, and Singapore's focus on advanced manufacturing and photonics innovation. As a result, the Group believes that the rapid growth in the downstream metalens applications, including, laptops, smartphones, AR/VR devices, autonomous vehicles, will create a strong and emerging demand for lightweight, compact, and high-performance optical solutions.

Use of Proceeds

Based on the Placement Price of S$0.20, the gross proceeds from the Placement will be approximately S$6.0 million. The net proceeds to be raised from the Placement (after deducting the placement commissions and the estimated expenses incurred in relation to the Placement payable by the Company of approximately S$2.0 million) will be approximately S$4.0 million.

The Group intend to use the gross proceeds from the issue of Placement Shares primarily as follows: (i) product development, research & development, and strategic partnerships; (ii) business expansion through organic growth, mergers and acquisitions, joint ventures and/or strategic partnerships; and (iii) working capital and general corporate purposes.

Business Strategies and Future Plans

The Group will drive growth by further leveraging on existing capabilities to expand its product range and fabrication capacities, focusing on miniaturising devices and integrating metalenses into a wider range of applications for smart devices, optical sensors, smart glasses, autonomous vehicles and AR/VR displays. The Group intends to introduce a new laser with pulsing feature which will enable faster, customised mold production. R&D efforts will target the development of tunable metalenses and strategic collaborations with customers and overseas innovation hubs. The Group will reinforce and diversify its supplier base while attracting, training and retaining skilled engineers and staff to support innovation. These strategies will allow the Group to capture emerging opportunities and reinforce its leadership in the rapidly evolving metaoptics industry.

Executive Chairman and Chief Executive Officer of MetaOptics Ltd, Mr. Mark Thng, remarked: "Our upcoming listing on SGX marks a transformative milestone for MetaOptics, further solidifying our foundation to advance R&D, expand global footprint, and accelerate growth. As we celebrate this groundbreaking milestone, I would like to take this opportunity to acknowledge the dedicated support and valuable contribution from our shareholders, our suppliers and trusted partners. 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. 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."

" Looking ahead, supported by favourable industry prospects, our trusted partners in the ecosystem as well as our proven capabilities, we are confident that MetaOptics will continue to lead in innovative, high-performance optical solutions for next-generation applications, capable of delivering sustainable growth and long-term value to our shareholders."

About MetaOptics Ltd

Headquartered in Singapore at the JTC LaunchPad with operations commencing from 2021 through its wholly-owned subsidiary, the Group designs and manufactures metaoptics components and products including metalens, metalens camera modules, metalens manufacturing equipment, and metalens IoT products, such as infrared metalens cameras, pico projectors and IoT metalens colour cameras. The metalenses are integrated into a wide range of applications by its customers, especially for smartphones, contactless 3D biometrics modules, projectors, and industrial uses such as IoT devices, LiDAR and HUDs for planes and self-driving cars, and AR/VR devices. According to an independent market research report, the Company ranks third globally among metalens companies with mass production possibilities and shipments in terms of revenue by the end of 2024, and fifth globally in 2024 in terms of revenue, among all metalens companies.

This press release is issued by DLK Advisory Limited on behalf of MetaOptics Ltd.

For any enquiries, please contact:

DLK Advisory

Telephone: +852 2857 7101

Fax: +852 2857 7103

pr@dlkadvisory.com / ir@metaoptics.sg

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