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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.

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

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.

“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.”

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