SGX lists Zhongmin Baihui Retail on Catalist

The retailer’s listing to SGX adds numbers of companies catering to Chinese consumers.

Singapore Exchange (“SGX”) is pleased to welcome the listing of Chinabased Zhongmin Baihui Retail Group on the Catalist board, under the ticker symbol of “ZhongminBH (5SR)”.

Zhongmin Baihui Retail owns and operates the Zhongmin department store in Xiamen City, which is also one of the largest underground retail malls in Fujian Province of the People’s Republic of China. In addition, the Company also manages six other department stores in Quanzhou and Zhangzhou Cities in Fujian Province under the “Zhongmin Baihui” brand name, according to an SGX report.

Mr Chen Kaitong, CEO and Executive Director of Zhongmin Baihui, said: “the positive response to our IPO is very encouraging. With the support of our new shareholders, we can now focus on rolling out our growth plans, and establishing ourselves as a major brand name. We believe that this is the first step to enhancing shareholder value.”

“The listing of Zhongmin Baihui Retail adds to our range and numbers of companies catering to the consumer needs in the China market. It underscores SGX’s position as a key overseas listing destination for companies from the largest economy in Asia,” said Mr Lawrence Wong, Head of Listings.

Zhongmin Baihui Retail, with an estimated market capitalisation of about $ 59 million, brings the total number of Catalist companies to 132 with a combined market capitalisation of $6.5 billion.