PENANG -- FoundPac Group is considering spinning off its laser stencil unit, Dynamic Stencil, and is looking at initial public offering possibilities.

Multiple stock exchanges including Bursa Malaysia are under consideration for the IPO, the company's chief executive added.

“It is actually in the pipeline. When the opportunity comes, we will take it,” said Ong Choon Heng, CEO and executive director, FoundPac, in a published interview.

Dynamic Stencil had revenue of RM12 million and net income of RM4 million in fiscal 2020.

FoundPac designs and manufactures test sockets and stiffeners for semiconductor manufacturers, outsourced semiconductor assembly and test companies (OSATs), and printed circuit board companies. The company owns 75% of Dynamic Stencil, which it acquired for RM16.5 million in 2017.

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