SGX welcomes manufacturing solutions firm Grand Venture Technology to Catalist

The firm has a market capitalisation of approximately $65m.

Manufacturing solutions provider Grand Venture Technology (GVT) made its debut on the Singapore Exchange’s (SGX) Catalist board, opening at $0.27, an announcement by the local bourse revealed.

GVT was founded in 2012 and provides engineering, assembly, testing and product life-cycle management solutions for the semiconductor, analytics life sciences and electronics industries. It has facilities in Singapore, Malaysia and China and serves a portfolio of customers considered as some of the largest original equipment manufacturers (OEMs) in their respective industries, the statement highlighted.

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“The listing of GVT marks the beginning our next phase of growth,” the firm’s executive chairman Ricky Lee said in a statement. “As we continue to build upon our past success, we look forward to creating more value and sharing the returns with our new shareholders.”

With a market capitalisation of approximately $65m, GVT’s listing brought the number of companies listed on Catalist to 215, with a combined market capitalisation of more than $10b, SGX added.

“Singapore is a world-class precision engineering hub which has evolved over the years to offer more innovation-based and high value production,” SGX’s head of equity capital market Mohamed Nasser Ismail added. “In this era of high-tech manufacturing, we look forward to working alongside the company as they leverage advanced technology like robotics and make strides into new growth areas such as medical imaging and diagnostics.”