Senheng to raise RM267.5mil from IPO

KUALA LUMPUR: Consumer electrical and electronics retailer, Senheng New Retail Bhd (Senheng) plans to raise RM267.5 million in net proceeds from its initial public offering (IPO) on the Main Market of Bursa Securities to fund its next transformation phase and shape the nation’s new retail landscape.

Senheng is expected to list on the local bourse on Jan 25, 2022, and its IPO exercise entails the public issue of 250 million new shares and an offer-for-sale of 139.5 million existing shares at an issue price of RM1.07 per share.