KUALA LUMPUR (May 5): ACE Market-listed bakery product manufacturer SDS Group Bhd will be migrated to the Main Market of Bursa Malaysia under the “consumer products & services” sector next Monday (May 8).
In a statement on Friday, Bursa Malaysia Securities Bhd said that with the transfer, the stock's short name of "SDS" and stock number "0212" will remain unchanged.
SDS Group, which made its debut on the ACE Market in October 2019, proposed to transfer its listing to the Main Market in July 2022.
The transfer to the Main Market is expected to “enhance the group’s prestige and reputation”, and will accord it “greater recognition and acceptance among investors”, in particular institutional investors, SDS Group said in a bourse filing on July 28, 2022.
“In addition, the proposed transfer will also promote the group’s corporate image, leading to greater recognition and confidence among customers, suppliers, business partners, bankers, employees and shareholders,” it added.
Shares in SDS Group closed unchanged at 68.5 sen on Friday, valuing the Johor-based bakery and café operator at RM278.56 million.
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