ACE Market-listed SDS Group seeks transfer to Main Market

KUALA LUMPUR (July 28): Bakery products manufacturer SDS Group Bhd, which made a debut on Bursa Malaysia’s ACE Market in October 2019, has proposed to transfer its listing to the Main Market.

The transfer to the Main Market will enhance the group’s prestige and reputation and will accord it greater recognition and acceptance among investors, in particular institutional investors, SDS said in a bourse filing.

“In addition, the proposed transfer will also promote the group’s corporate image leading to greater recognition and confidence to customers, suppliers, business partners, bankers, employees and shareholders,” it added.

SDS Group noted that its market capitalisation has risen from RM93.34 million at the time of its listing to RM155.66 million as at July 27.

The group expects the transfer to the Main Market to be completed in the first half of 2023.

It said applications to the relevant authorities, including Securities Commission Malaysia and Bursa Securities, are expected to be made within the next three months.

Shares in SDS Group ended up half a sen or 1.32% at 38.5 sen on Thursday (July 28).