Business briefing

SMJ International Holdings launches Catalist IPO

HOME-GROWN carpet specialist SMJ International Holdings yesterday launched its Catalist IPO, offering 20.24 million placement shares - comprising 14 million new shares and 6.24 million vendor shares - at 28 cents apiece. It expects to raise net proceeds of approximately $2.4 million. The placement is expected to close at 12pm on June 25, and trading is expected to begin on June 30. Hong Leong Finance is the sponsor, issue manager, and placement agent.

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