Singapore Exchange (SGX) just informed that it has today welcomed LY Corporation Limited to its Catalist under the stock code “1H8”.
LY Corporation Limited is one of Malaysia’s leading manufacturers and exporters of wooden bedroom furniture. With strong in-house design and development capabilities and an established subcontractor network, they have a track record of approximately 40 years in the furniture industry and are well recognised for the quality of their furniture products.
We are encouraged by the strong investors’ interest in the IPO, which reflects confidence in LY Corporation’s track record and growth prospects. We believe that a listing on the Catalist board of the Singapore Exchange will provide us with the access to the international capital market that will offer us significant impetus to pursue our next phase of growth,” said Mr Tan Yong Chuan, LY Corporation Limited’s Executive Director and Chief Executive Officer.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development at SGX, added:
We are pleased to welcome LY Corporation Limited to Catalist. As the company looks to expand their sales network in the PRC as well as upgrade and expand their facilities, we look forward to supporting them in their growth ambitions.
With a market capitalisation of about S$127 million, the listing of LY Corporation Limited brings the total number of consumer companies to 151, with a combined market capitalisation of close to S$150 billion. The total number of companies listed on Catalist rises to 201, with a combined market capitalisation of over S$12.5 billion.
LY Corporation Limited opened at S$0.285 today.