Senheng obtains SC approval to list on main market

by BERNAMA / pic credit: SenhengMY FB

KUALA LUMPUR – Consumer electrical and electronics (E&E) retailer Senheng New Retail Bhd is set to be listed on the Main Market of Bursa Malaysia in January 2022 after obtaining approval from the Securities Commission Malaysia (SC).

Executive chairman Lim Kim Heng said with the approval, the group is ready to embark on its next phase of growth and the initial public offering (IPO) exercise would help further strengthen its market position in the E&E business.

“As a digitally-forward company, our operations are highly adaptable to challenges in the business environment. We recorded healthy growth in our financial performance despite the multiple iterations of the movement control order,” he said in a statement today.

Mercury Securities Sdn Bhd is the principal adviser, managing underwriter, and joint bookrunner for Senheng’s IPO exercise, while CIMB Investment Bank Bhd and AmInvestment Bank Bhd are the joint bookrunners and joint underwriters.

Founded in 1989, the group’s stores carry more than 280 renowned consumer E&E brands, featuring a comprehensive range of digital gadgets, audio visuals, home appliances and related products.