Parkson Retail Asia, a unit of Malaysia’s Parkson Holdings, plans to sell shares in an initial public offering in Singapore next month, said two people with knowledge of the matter.
The company plans to start gauging demand among potential early investors next week, said the people, who declined to be identified because the timing isn’t public. The IPO of Parkson Retail, which operates shopping malls in Malaysia, Indonesia and Vietnam, may raise $300 million to $500 million, a person familiar with the deal said in August.
The company plans to start gauging demand among potential early investors next week, said the people, who declined to be identified because the timing isn’t public. The IPO of Parkson Retail, which operates shopping malls in Malaysia, Indonesia and Vietnam, may raise $300 million to $500 million, a person familiar with the deal said in August.
Parkson Retail said today it received conditional approval for a listing from Singapore’s stock exchange. CIMB Investment Bank and HSBC Holdings Plc were hired to help manage the sale, the company said in August. Parkson Retail Managing Director Alfred Cheng wasn’t immediately available to comment when phoned at his office today.
Parkson operates 36 department stores in Malaysia and seven in Vietnam, according to its website. The company incorporated Parkson Retail Asia in Singapore in March.
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