Parkson Retail Asia joins SGX Mainboard

With a market capitalisation of about S$ 640 million, Parkson brings the total number of listed companies on SGX to 776.

According to a release, Parkson is a Southeast Asian-based operator of department stores with 50 stores across Malaysia, Vietnam and Indonesia. The company is the second biggest department store operator in Malaysia and the leading operator in Vietnam. Parkson plans to use most of its IPO proceeds to expand its business in existing markets and to open a new store in Cambodia.

Datuk Alfred Cheng (钟荣俊), Group Managing Director of Parkson said, “Parkson’s successful listing on SGX marks an important milestone in our corporate history of over 20 years. Highly encouraged by the keen interest from the quality investors that we have on board in Parkson’s listing in Singapore, we feel affirmed of our business strategies and plan to build Parkson into an established department store brand name in Southeast Asia. Going forward, we believe our status as an SGX-listed company will put us in a stronger position to gain access to capital markets to fund our expansion, move up our business value chain and ultimately maximise value to our shareholders.”

“We are pleased that Parkson Retail Asia has chosen to come to SGX to raise funds for its business expansion in Asia, the fastest growing region in the world. This listing adds to the growing pool of Consumer companies which are using SGX to strengthen their positioning and growth in Asia,” said Mr Gan Seow Ann, President of SGX.