Courts Asia, a furniture and electronics retailer with operations in Singapore and Malaysia, is planning to raise more than US$100 million ($139.7 million) in a Singapore initial public offering, sources said on Friday.

The IPO, comprising a mix of new and existing shares, will raise funds to support Courts’ consumer finance business and the opening of new stores, according to a draft prospectus on the Monetary Authority of Singapore’s website. 

Singapore’s Straits Times Index gained 0.3% to 2,881.36 at the close. The gauge gained 3.3% this week, the most since the week ended Aug. 28. Three stocks rose for every two shares that fell on the 30- member gauge.

Shares on the measure trade at 15 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.