Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on November 27, 2018

KUALA LUMPUR: SDS Group Bhd is aiming to list its shares on the ACE Market of Bursa Malaysia with an initial public offering (IPO) of 104.3 million shares.

The group, which is involved in the manufacturing and distribution of bakery products as well as the operation of food and beverage (F&B) outlets in Malaysia, aims to raise funds to expand both its wholesale and retail operations.

“We intend to utilise the proceeds to expand our business presence within the central and northern regions of Peninsular Malaysia with the additional capacity from our new manufacturing plant in Seremban,” SDS said in its draft prospectus filed with the Securities Commission Malaysia yesterday.

This includes increasing the fleet of its delivery vehicles and setting up of new F&B outlets in the Klang Valley over a two-year period, it said.

Some 60.87 million shares are expected to be made available to selected investors via private placement with 20.29 million shares for the public. Eligible directors and employees will be offered 23.13 million shares.

SDS has yet to announce an offer price or listing date for its IPO.

Its wholesale brands include Top Baker and Daily’s while its F&B outlets, which are located in Johor, are S.D.S. and Fanpekka Cafe by S.D.S.

      Print
      Text Size
      Share