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It would have been the second company to launch an IPO on the local bourse this year
[SINGAPORE] Candy maker YLF Group Marketing has withdrawn its plans to list on the Catalist board of the Singapore Exchange (SGX).
This comes less than three weeks after the group on Mar 27 lodged its preliminary offer document for an initial public offering (IPO).
No reason was given for the withdrawal. The Business Times has reached out to YLF for comments.
YLF would have been only the second company to go public on the SGX since November 2024.
Parallel-car importer Vin’s Holdings began trading on the Catalist board on Apr 15, notching the first IPO for the local bourse this year.
The withdrawal of YLF, which manufactures and distributes its range of candy products in Singapore, Malaysia and Thailand, comes amid US tariffs that have roiled the financial markets.
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Since Mar 27, Singapore’s benchmark Straits Times Index has fallen 9 per cent.
According to its preliminary prospectus, YLF planned to use the net proceeds from the IPO to expand its product mix, grow its distribution network in overseas markets, and explore inorganic growth through acquisitions, joint ventures or strategic alliances.
Through the years, the group has developed its own Pikin brand of plum candies and beverages, the Beardy candy brand, and Toy’s Castle brand of toys.
It has also entered into licensing agreements with international brands, such as Disney and Warner Bros, as well as distributes established third-party candy brands, such as Yupi, PEZ and Kidsmania.
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