KUALA LUMPUR: Malaysia's Nuren Group, which operates a digital platform for women in parenting, education and maternity wellness, is seeking to launch its initial public offering (IPO) on the National Stock Exchange of Australia.
Set to debut at A$0.20 per share, the company is looking at a mid-July 2024 listing.
"The capital raised through the IPO will fuel Nuren's commitment to expanding its market presence in the parenting, education, and maternity wellness sectors.
"It will also enhance the company's technological infrastructure to deliver a seamless user experience and the funding will accelerate growth in key strategic areas through innovation," it said.
Nuren currently provides a portfolio featuring top platforms like Motherhood.com.my, the Motherhood SuperApp, Kelabmama.com, and Ibuencer.com.
Nuren Group founder and chief executive officer Petrina Goh said the company is dedicated to utilising its expertise and technology to enhance customers' quality of life and generate enduring value for shareholders.
"The market for parenting tech is experiencing unprecedented growth, driven by increasing awareness and demand for convenient, effective and personalised care solutions.
"The global parenting spending market, encompassing baby care products, childcare services, education technology, and parenting apps, is valued at several hundred billion dollars annually and is expected to continue growing significantly," she said.
Goh emphasised that this will provide a significant opportunity for the company to take advantage of the growing market and address the changing needs of contemporary families.
Additionally, Nuren aims to upgrade its technological offerings by integrating an AI-powered parenting chat into the Motherhood SuperApp.
This feature will provide users with personalised support and advice, using advanced machine learning algorithms to deliver real-time, relevant assistance.