Sen Heng New Retail Berhad (5305) electrical goods store preparing for IPO 🔦

Read in the news that Senheng is planning an IPO to the main board of KLSE soon. Senheng claims to be the largest consumer electrical and electronics chain retailer in Malaysia by revenue (RM1.3 billlion).

Senheng is an old name in the electrical goods industry. Having said that, the company is quite well run with Japanese work values and quite able to navigate from physical store to online. The company has 130 retail stores country wide.

The prospectus proposal info :

Proposed initial public offering of 389,500,000 ordinary shares in Senheng (“Shares”) in conjunction with the listing of Senheng on the Main Market of Bursa Malaysia Securities Berhad comprising:-

"Proposed public issue of 250,000,000 new Shares (“Issue Shares”) comprising:-
30,000,000 Issue Shares to the Malaysian public;
22,500,000 Issue Shares to eligible directors, employees, and other persons who have contributed to the success of Senheng and its subsidiaries;
48,000,000 Issue Shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry of Malaysia (“MITI”); and
149,500,000 Issue Shares by way of private placement to institutional and selected investors.
proposed offer for sale of 139,500,000 existing Shares by way of private placement to Bumiputera investors approved by the MITI."

Updates 20211115

Sen Heng is finally going to be listed at Bursa Malaysia on Jan 2022.

Updates 2021228

Sen Heng now is launching their IPO prospectus on 29/12/2021.

IPO price set at RM1.07 and will be listed on Bursa Malaysia on 25 JAN 2022. The stock symbol of Sen Heng on Bursa Malaysia is 5305 and the official name is Sen Heng New Retail Berhad.

PE (Price Earnings) will be 25x if based on 2022 forecasted earnings.