Supplement maker DXN invites pitches for US$300mil IPO

DXN distributes dietary supplements and food items like cordyceps coffee and spirulina cereal, as well as skin care products and cosmetics

KUALA LUMPUR (Bloomberg) -- DXN Holdings Bhd, a health supplement producer, has asked banks for pitches for an initial public offering that could raise at least US$300mil, people with knowledge of the matter said.

The company, backed by Southeast Asian private equity firm KV Asia Capital, could sell shares as soon as the end of this year, said the people.

The supplement maker hasn’t decided on the listing venue with Malaysia, Singapore and Hong Kong among the potential options, said the people asking not to be named as the information is private.