Vertex Material Targets 2027 Nasdaq Listing with $7 Billion Valuation
Vertex Material, a Malaysian advanced materials company, is eyeing a Nasdaq listing by 2027 after claiming unicorn status with a valuation of US$7 billion (RM28.69 billion). The firm aims to support commercial-scale production and streamline manufacturing logistics through its planned US manufacturing operation.
The operation will provide direct access to copper supplies and cater to the company's target customers in the electrification, renewable energy infrastructure, electric mobility, artificial intelligence infrastructure, and high-performance electronics sectors.
Vertex Material currently owns a plant in Kampung Baru Subang and has secured an offtake arrangement for 160,000 tonnes of product annually. The founder and technical director, Datuk Tan Chin Tong, stated that the next phase is about execution, requiring consistent product performance, expanded manufacturing capacity, and a reliable supply chain to meet customer demand.
The proposed US operation will bring production closer to suppliers and customers, said Tan. Vertex Material's focus on developing next-generation copper-graphite composite materials aligns with the increasing global demand for these materials due to concerns over ore supply, which has driven copper prices to all-time highs this year.