MetaOptics Ltd on Apr, 06 2026 released detailed replies to questions from the Securities Investors Association (Singapore) and shareholders regarding its circular dated Mar, 19 2026 on the company’s proposed dual primary listing on Nasdaq via American depositary shares (ADS).
The company said it is seeking shareholder approval to issue ADS at a discount of more than 10 percent to provide pricing flexibility during bookbuilding. Final pricing will be market-driven, with the board reserving the right to postpone the transaction if capital-market conditions are deemed unfavourable. Nasdaq requirements include raising at least US$15 million, having a minimum of 1 million unrestricted publicly held ADS and achieving a minimum US$4.00 bid price per ADS.
Management expects the Nasdaq listing to broaden its investor base, improve trading liquidity relative to the Catalist board of the Singapore Exchange, and position the group closer to United States customers. Annual incremental compliance costs are estimated at about 0.2 million Singapore dollars, to be managed with external advisers and potential staffing additions.
Shareholders will vote on three remuneration resolutions: a 15 percent share cap employee share option scheme, permission to grant options at a discount, and a performance share plan. Allocation will depend on factors such as role, tenure and contribution, with independent directors abstaining from decisions on their own awards.
The company addressed governance concerns over the appointment of Executive Director and Chief Executive Officer Aloysius Chua, emphasising his operational experience since 2021 and stating that the promotion is unrelated to his family ties with a substantial shareholder.
For the financial year ended Dec, 31 2025, MetaOptics reported a net loss of 5.4 million Singapore dollars, driven by one-off professional fees of 2.4 million Singapore dollars tied to its Catalist listing and planned Nasdaq listing, non-cash items of about 1 million Singapore dollars, and 1.8 million Singapore dollars in research and development expenses. The group said these costs are non-recurring and reiterated its goal of achieving positive net income “in the near future”.
Following its product showcase at CES 2026, MetaOptics reported “positive customer traction” and ongoing technical discussions, though no specific contract values were disclosed. The company advised investors to exercise caution when trading its shares and to await further announcements on the final pricing and timetable of the ADS offering.