Magnate Technology Co Ltd (晟田科技工業), which manufactures aerospace components and assembly products in Taiwan, is scheduled to list on the GRETAI Securities Market next month to raise funding for plant construction.
Magnate Technology might set its preliminary price at about NT$40 per share, according to market estimates, a 30 percent discount from its closing price of NT$55.99 on the Emerging Stock Market yesterday. Shares rose 1.16 percent yesterday.
Following an estimated 29,226 aircraft worth US$4.84 trillion to be delivered to countries around the world from last year to 2032, the expected rising demand has made the company move ahead with the third-phase construction of its plant.
“We will use most of the funding received through the listing for capital expenditure,” chairman Young Hsieh (謝永昌) told a media briefing.
The steady increase in demand could help the company post double-digit growth in its consolidated revenue this year, from the sales of NT$895.68 million (US$29.79 million) it posted last year, Hsieh added.
Magnate Technology saw net income last year total NT$98.65 million, or NT$2.23 per share. For the first three months of the year, the company posted NT$26.01 million, or NT$0.59 per share, in net profit, according to its financial statement.
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