KUALA LUMPUR/HONG KONG (Feb 4): DXN Holdings Bhd, a Malaysian health supplement producer, has asked banks for pitches for an initial public offering that could raise at least US$300 million, people with knowledge of the matter said. The company, backed by Southeast Asian private equity firm KV Asia Capital, could sell shares as soon as the end of this year, said the people. Representatives for KV Asia and DXN did not immediately respond to requests for comment. DXN, which started in 1993, uses a direct-selling model with more than eight million registered distributors worldwide, according to its website. KV Asia bought a stake in DXN in 2017.

Source: The Edge Markets February 04, 2020 12:56 UTC