Agape ATP, a Malaysian direct sales company offering supplements and skincare products, announced terms for its IPO on Tuesday. The company first filed in July 2020 but did not meet Renaissance Capital's tracking criteria at the time. Agape ATP is currently listed on the OTC under the symbol "AATP".
The Kuala Lumpur, Malaysia-based company plans to raise $46 million by offering 7.7 million shares at a price range of $5.50 to $6.50. At the midpoint of the proposed range, Agape ATP would command a market cap of $499 million.
Agape ATP sells a variety of dietary supplements and skincare products through a direct sales model, primarily targeting distributors in Malaysia. The company also runs an advisory services center called the “ATP Zeta Health Program”, which it states is designed to promote improved health and longevity through a combination of health supplements, nutrition, and advice from nutritionists and/or dieticians.
Agape ATP was founded in 2016 and plans to list on either the Nasdaq or the NYSE under the symbol AATP. Prime Number Capital is the sole bookrunner on the deal.
