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.

Escape theme park Source: Escape Theme Park

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 ventures 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.

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