DXN aims to raise RM121.6mil from IPO for repayment, working capital

(From left) CLSA Securities Malaysia head of investment banking Abang Rahmat Yusuf, CIMB Investment Bank group head of investment banking and deputy CEO Nor Masliza Sulaiman, DXN non-independent executive chairman and founder Datuk Lim Siow Jin, Maybank Investment Bank CEO Fad'l Mohamed and RHB Investment Bank managing director and CEO Ganesh Sabaratnam

KUALA LUMPUR: Main Market-bound DXN Holdings Bhd aims to raise about RM121.6mil from the public issue portion of its initial public offering (IPO), which will go towards the repayment of bank borrowings and working capital requirements.

At the launch of its IPO prospectus today, the wellness products company said the IPO will involve an offering of up to 932.68 million DXN shares, comprising an institutional offering of up to 772.68 million existing shares and a public issue of 160 million new shares.