Deliberations are ongoing, with details such as size still under consideration, the people said.
Representatives for Asia Partners and SCI declined to comment.
Asia Partners led a $50 million funding round for SCI in 2021. In an interview with Bloomberg News at the time, CEO Joseph Liu said SCI was planning to pursue an IPO in New York and a potential second listing in Singapore.
SCI helps brands such as Danone, Huggies, Nestle, Philips and Unilever set up and manage their online operations in Southeast Asia and China, according to its website. The company says it has over 6,000 online stores.
See also: How to jump-start the Singapore stock market
Singapore’s IPO activity has sunk to the lowest in more than a decade, with only US$19.5 million raised so far this year in a solitary first-time listing by Singapore Institute of Advanced Medicine Holdings.
