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.