KUALA LUMPUR: Baby, children and maternity product retailer Kim Hin Joo (Malaysia) Bhd has appointed UOB Kay Hian Securities (M) Sdn Bhd to be the principal adviser, sponsor, underwriter and placement agent for its initial public offering (IPO) scheduled for next month.
The company, which holds the franchise for Mothercare and Early Learning Centre (ELC) brand in Malaysia, said UOB Kay Hian will underwrite a total of 29 million shares.
These comprise 19 million new shares available for the Malaysian public and 10 million new shares reserved for application by the company’s eligible directors and employees, as well as persons who have contributed to the success of Kim Hin Joo and its subsidiaries, subject to the clawback and reallocation provisions set out therein.
The company has obtained a conditional approval to list on the ACE Market of Bursa Malaysia and targets to launch its prospectus this month.
“We are in the midst of finalising a development agreement with The Entertainer UK, a United Kingdom-based toy retailer, which will enable the company to open and operate The Entertainer toy outlets in Malaysia and sell a broad range of toys,” it said in a statement today.
Kim Jin Hoo operates 17 Mothercare outlets and 11 ELC store-in-stores. The group also has 624 distribution points spread nationwide, which includes specialty stores, department stores, hypermarkets and other retailers.
The IPO entails a public issue of 76 million new shares in Kim Hin Joo and an offer for sale of 57 million existing shares in the company. - Bernama