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MindChamps plans overseas expansion, listing after SPH partnership

Published on Aug 21, 2014 6:41 PM
 
Home-grown pre-school chain MindChamps Preschool plans to expand into Malaysia and Australia, on the back of a new partnership with media group Singapore Press Holdings. The company is also planning for an eventual stock market listing, founder and group chief executive David Chiem (pictured) told a press conference on Thursday. -- PHOTO: ST FILE 

SINGAPORE - Home-grown pre-school chain MindChamps Preschool plans to expand into Malaysia and Australia, on the back of a new partnership with media group Singapore Press Holdings (SPH).

The company is also planning for an eventual stock market listing, founder and group chief executive David Chiem told a press conference on Thursday. However, he declined to reveal when this might occur.

SPH announced on Wednesday that it has paid about $12 million in cash for 110,000 shares in MindChamps Preschool (Worldwide). That works out to a 22 per cent stake in the firm.

MindChamps Preschool will open its first centre in Kuala Lumpur by the second quarter of next year, and expects to be in Australia by 2016.

 
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