99 Speed Mart launches Malaysia's biggest IPO in seven years to raise RM2.36b
KUALA LUMPUR (Aug 15): Convenience store chain operator 99 Speed Mart Retail Holdings Bhd launched Malaysia’s biggest initial public offering (IPO) in seven years, which would raise up to RM2.36 billion for its Main Market listing.
The IPO is priced at RM1.65 per share, according to the official prospectus. The company has begun taking orders from both retail and institutional investors. The retail offering will close on Aug 23, while the institutional tranche will end on Aug 27.
Listing is scheduled for Sept 9.
If successful, the IPO would raise the most funds on Bursa Malaysia since July 2017, when Lotte Chemical Titan Holding Bhd (KL:LCTITAN) grossed RM3.77 billion.
More to come
Read also: 99 Speed Mart Retail Holdings inks underwriting deal, seeks 3Q listing 99 Speed Mart files for IPO, seeking minimum public shareholding spread of 15% 99 Speed Mart mulling IPO at up to RM1.5 bil value, say sources
- https://www.msn.com/en-my/money/topstories/99-speed-mart-launches-malaysia-s-biggest-ipo-in-seven-years-to-raise-rm2-36b/ar-AA1oPedZ?ocid=00000000
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