Aditya Hadi Pratama · · 1 min readNanofilm CEO steps down due to health reasons, founder to take over
Nanofilm Technologies, a Singapore-based nanotechnology solutions provider, announced that its chief executive Lee Liang Huang has resigned from his position due to health reasons. The resignation is effective August 21.
Shi Xu, Nanofilm’s executive chairman and founder, will assume the role of chief executive in the interim until a successor is appointed. Shi had been the chief executive from 1999 to 2017, and he is the most suited to take on the role because of his experience and knowledge of the business, the company said.
Shi Xu, chief executive at Nanofilm Technologies International / Photo credit: Nanofilm
Shares of the company closed at S$5.36 (around US$3.98) on June 23, the day the CEO’s resignation was reported in the media, down 0.7% compared to the previous day.
Spun off from Singapore’s Nanyang Technological University (NTU) in 1999, Nanofilm’s main revenue comes from its coating business, which makes products like smartphones, tablets, and printer components more durable and aesthetically pleasing.
See more: A successful IPO gives hope to Singapore’s deep-tech ambitions
In late 2020, it raised up to S$510 million (around US$379 million) through an IPO in Singapore. Reuters reported then that it was the city state’s biggest listing in at least eight years.
Editing by Miguel Cordon and September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
