SINGAPORE (REUTERS) - Singapore's Nanofilm Technologies International proposed an initial public offering (IPO) on Friday, which three sources with knowledge of the matter said could raise up to $510 million.

If successful, it will be the Singapore Exchange's biggest listing in recent years, excluding offerings from real estate investment trusts and business trusts.

The sources declined to be identified because they are not authorised to speak to the media.

A spokeswoman for Nanofilm, which makes coating materials for products including smartphones and televisions, declined to comment on the fundraising.

"Singapore has invested time and resources in nurturing homegrown and regional technology companies, many of which are ready to tap the capital markets for further growth," Mohamed Nasser Ismail, SGX's equity capital markets chief said in an email.

In the prospectus issued on Friday, Nanofilm said it had secured 13 cornerstone investors, who sources said would take up a little more than 50 per cent of the offering.

Nanofilm said these included Aberdeen Standard Investments (Asia), Nikko Asset Management Asia and Malaysia's Employees Provident Fund Board. Subsidiaries of Singapore state investor Temasek Holdings are also among the cornerstone investors.

Citi, Credit Suisse and OCBC Bank are joint global coordinators and bookrunners with investment bank CLSA.