Sim Leisure Group plans IPO listing on Singapore’s Catalist board
The group plans to tap on the initial public offering to fund its business expansion plans.
Malaysian theme park operator Sim Leisure Group on Friday lodged a preliminary prospectus to list its shares on Singapore Exchange’s Catalist board. The group plans to tap on the initial public offering (IPO) to fund its business expansion plans.
The amount the firm expects to raise was undisclosed. But according to Bloomberg, founder and chief executive officer Sim Choo Kheng plans to raise around S$10 million to S$12 million through the sale of new and existing shares in the listing.
Sim Leisure operates theme parks in Penang, Escape Waterplay and Escape Adventureplay. Proceeds from the deal will be used to expand Sim Leisure’s existing theme park operations, and venture into new regions such as South-east Asian cities and China. The firm also plans to grow its business through joint ventures and strategic alliances.
Last year, Sim Leisure made a total turnover of RM$9.68 million, up from the RM$9.24 million a year ago, helped by the increased ticket prices with the opening of Escape Waterplay.
Last year, the group’s Escape theme parks drew in a total of 112,000 visitors. This year, the firm expects about 185,000 visitors to visit its parks, making it a higher sales figure for the full year.
Sim Leisure said its directors recommend an annual dividend of a minimum of 30% of net profit attributable to owners of the firm for the financial years 2019 and 2020.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
