AT the height of the glove stocks rally late last year, two local glove companies expressed interest in an initial public offering.
But as valuations for glove stocks have tapered off, now that many countries have started to vaccinate their citizens against the Covid-19 virus, have the duo missed the boat?
Harps Holdings Sdn Bhd and Smart Glove Corp were reportedly seeking to raise about RM2 billion and RM1 billion respectively in an IPO. However, they have yet to file their prospectus exposure draft with the Securities Commission Malaysia.
Analysts generally view a listing as a good platform for private companies to raise funds for their expansion plans.
(Feb 2): DXN Holdings Bhd, a Malaysian health supplement producer, has picked banks for an initial public offering in Kuala Lumpur that could raise about US$400 million, people with knowledge of the matter said.
The company, backed by Southeast Asian private equity firm KV Asia Capital, has chosen CIMB Group Holdings Bhd, Credit Suisse Group AG and Malayan Banking Bhd. to help with the share sale, the people said. An offering could take place as soon as the fourth quarter, said the people, who asked not to be identified as the information is private.
The mandates follow KV Asia’s approach inviting banks to submit pitches for the planned IPO, Bloomberg News reported last year.
Ramsay Sime was set up in 2013 to hold Sime Darby and Ramsay Health’s combined portfolio of hospitals in South-East Asia.
KUALA LUMPUR: Ramsay Sime Darby Health Care Sdn Bhd has picked arrangers for an initial public offering in Malaysia that could raise about US$300mil, according to people with knowledge of the matter. (Maybank) and Morgan Stanley have been chosen to work on the planned listing of the health care firm, said the people, who asked not to be identified as the information is private.
The share sale in Kuala Lumpur could take place as soon as the second half of this year, the people said.