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Ron Sim applies to list V3 in Hong Kong
OSIM International, which was delisted from the Singapore Exchange last August, has re-emerged as V3 Group which is seeking a listing on the Stock Exchange of Hong Kong.
In its preliminary prospectus filed on Wednesday, V3 is described as an Asian luxury group in lifestyle and wellness business. Its management team is headed by Singapore's Ron Sim, who is also OSIM's founder, executive chairman and chief executive officer.
V3, formerly known as Vision Three Pte Ltd, was the vehicle Mr Sim used to make a voluntary unconditional cash offer for all the shares it did not own to privatise OSIM. He launched a bid with an initial offer of $1.32 per share, but that was later raised twice to $1.39 after a trading bungle.
Osim is best known for its massage chairs, but it also distributes health supplements at GNC and RichLife stores. The group also owns tea brand TWG.
Credit Suisse, Bank of China and Jefferies are joint sponsors for the initial public offer.