Malaysia-based Sim Leisure Group, a theme park and water park operator, is planning to raise approximately $10 million to $12 million in an initial public offering (IPO) in Singapore.
Sim Leisure intends to use the proceeds from the IPO to finance its extension of existing theme park operations and help it venture into new regions, such as other South-east Asian cities and China.
The transaction is likely to take place by next month. Further, the company also intends to extend its business through strategic alliances and joint ventures.
Last year, Sim Leisure's theme parks generated $2.3 million in revenue up from $2.2 million in 2016.