KUALA LUMPUR (Dec 23): Stratus Global Holdings Bhd, which provides factory automation, has filed for a Main Market listing to raise funds for expansion and operations.

The proposed initial public offering (IPO) will involve the public issue of new shares at a price to be determined later, according to its draft prospectus. The IPO does not have an offer for sale of an existing tranche, meaning that existing shareholders are not cashing in their stake in the company.

Stratus Global is in the midst of identifying a suitable property of at least two acres in Penang that will serve as an additional production area, research centre and warehouse, the company said.

Based in Penang, Stratus Global specialises in cleanroom 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.

“The new facility is expected to provide us with additional production floor space for our in-house fabrication as well as assembly and testing of [automated material handling system] components to support multiple projects concurrently and to cater for our growing order book,” Stratus Global noted.

Stratus Global is also planning to set up new sales and engineering support offices in Japan, Taiwan, Germany and the US in a bid to expand its international business that accounted for more than half of its revenue.

“In view of the growing global demand for semiconductors, particularly with Europe and Asia being amongst the leading global hubs for semiconductor manufacturing, we aim to strengthen our position in these strategic markets,” the company said.

The rest of the proceeds from the IPO have been earmarked for research and development, working capital and defraying listing expenses. The company has no bank borrowings with nearly RM92 million in cash and bank balances and an unutilised bank facility of about RM26 million.

The company was founded in 1998 in the US by Ryo Narisawa, a 72-year-old Japanese who now serves as its CEO. In the 12 months ended March 2025, the company made a net profit of RM66 million on the back of RM220 million in revenue.

UOB Kay Hian is the IPO’s principal adviser, underwriter and placement agent.