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Singapore tycoon Ron Sim aborts HK IPO plan on market turmoil

IPO

Singapore tycoon Ron Sim aborts HK IPO plan on market turmoil

Bloomberg Published on Fri, Oct 26, 2018 / 6:09 PM GMT+8

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SINGAPORE (Oct 26): Singapore entrepreneur and tycoon Ron Sim has “aborted” plans to list V3 Group in Hong Kong amid intense volatility and weakness in the global stock market.

Sim, who created Asia’s largest maker of massage chairs, has shelved plans for an initial public offering after letting the application lapse at the end of June, he said by phone.

The Singapore entrepreneur took Osim International private in a $326.7 million buyout in 2016. V3 Group comprises the Osim business and other consumer products units.