Malaysian marketing firm shopper360 has launched its initial public offering (IPO) on the Singapore Exchange's Catalist board.
The firm - which specialises in services such as in-store advertising, digital marketing and event management - is offering 38 million placement shares. These comprise 18 million new shares at 29 cents each and 20 million vendor shares.
The IPO is expected to raise net proceeds from the new shares of about $3.4 million, which shopper360 plans to use to fund its growth plans.
Group managing director Chew Sue Ann said: "The winning formula of our successful operations in Malaysia can be transplanted to and adapted in other Asean markets. Today, we stand on the cusp of making inroads into Singapore and Myanmar. Shopper360's listing in Singapore will further raise the visibility of the group as we embark on our next phase of growth."
The company plans to expand its service offerings and its network of customers and retail partners in Malaysia and abroad, she added.
It is also exploring acquisitions, strategic alliances and joint ventures. The firm counts major brands such as Nestle, Dutch Lady, Samsung, Southern Lion, Cotra Enterprises and Fonterra among its partners and has a network of over 1,900 retail outlets across Malaysia.
Its revenue grew at a compounded annual growth rate (CAGR) of 28.8 per cent between 2014 and last year to reach RM113.5 million (S$36.8 million) last year.
Net profit recorded a CAGR of 58.3 per cent, from RM5.3 million in 2014 to RM13.3 million last year.
As of May 17, its order book stood at about RM47.6 million. These contracts will be completed this year and next, and revenue will be recognised accordingly in these periods.
The firm intends to distribute an annual dividend of not less than 20 per cent of net profit, for the full 2017 and 2018 financial years.
The placement closes at noon next Wednesday. Listing and trading of shopper360 shares on Catalist are expected to start on June 30.