Supplement maker DXN picks banks for IPO

KUALA LUMPUR (Bloomberg): DXN Holdings Bhd, a Malaysian health supplement producer, has picked banks for an initial public offering in Kuala Lumpur that could raise about US$400mil (RM1.61bil), 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.