Malaysian The Body Shop franchise owner explores IPO

Malaysian The Body Shop franchise owner explores IPO

The owner of The Body Shop franchise for Malaysia, Niaga Sdn Bhd, is said to be exploring the possibility of an IPO, according to a report published by The Edge Markets. The company is expected to submit a main market listing to the Securities Commission Malaysia before the current quarter’s close.

“It’s still early days but, yes, we’re aiming for a Main Market listing,” The Body Shop Managing Director Datin Mina Cheah-Foong confirmed in an interview with The Edge Markets, although declined to comment on the timing.

The IPO could raise RM200 million, per Bloomberg estimates. The company made a profit of RM28.47 million in fiscal 2017.

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