Latest news with #RM623
Business Times
29-04-2025
- Business
- Business Times
Discount chain Eco-Shop seeks RM419 million in Malaysia IPO
[KUALA LUMPUR] Malaysian discount retail chain Eco-Shop Marketing plans to raise RM419 million (S$127 million) in what will be Malaysia's biggest market debut in eight months. Eco-Shop will look to sell 347 million shares at RM1.21 apiece in a public listing, valuing the company at RM7 billion, according to a prospectus released on Tuesday (Apr 29). The company plans to raise an additional RM623 million via a share sale to institutional investors. Maybank Investment Bank, a unit of Malaysia's biggest lender, is the sole underwriter of the IPO. The stock is expected to start trading on May 23. The dollar-store operator plans to use the proceeds from the share sale to add 70 stores per year for the next five years, essentially doubling its store count, chief executive officer Jessica Ng said during the launch of the prospectus in Malaysia's Selangor state. 'In the current cost environment, our business model has never been more relevant,' she said. Established in 2003 by Lee Kar Whatt, Eco-Shop sells the majority of items in its stores for RM2.60. It operates 350 stores across Malaysia and has a market share of 68 per cent in the country's discount-store sector. Eco-Shop's IPO underlines the strength of Malaysia's consumer sector – which also attracted the country's biggest listing last year in mini-mart chain 99 Speed Mart Retail Holdings, which raised over US$530 million in Malaysia's biggest IPO in seven years. Malaysia's consumer spending is expected to see further strong growth in 2025, according to Fitch Solutions' BMI in a recent report. Household spending is expected to grow 5.2 per cent this year, according to the report, marking a return to pre-pandemic levels of growth. BLOOMBERG
Free Malaysia Today
29-04-2025
- Business
- Free Malaysia Today
Discount chain Eco-Shop seeks US$97mil in IPO
Eco-Shop plans to use the proceeds from the share sale to add 70 stores per year for the next five years. (Eco-Shop website pic) KUALA LUMPUR : Malaysian discount retail chain Eco-Shop Marketing Sdn Bhd plans to raise RM419 million (US$96.7 million) in what will be Malaysia's biggest market debut in eight months. Eco-Shop will look to sell 347 million shares at RM1.21 apiece in a public listing, valuing the company at RM7 billion, according to a prospectus released today. The company plans to raise an additional RM623 million via a share sale to institutional investors. Maybank Investment Bank Bhd, a unit of Malaysia's biggest lender, is the sole underwriter of the IPO. The stock is expected to start trading on May 23. The dollar-store operator plans to use the proceeds from the share sale to add 70 stores per year for the next five years, essentially doubling its store count, chief executive officer Jessica Ng said during the launch of the prospectus in Malaysia's Selangor state. 'In the current cost environment, our business model has never been more relevant,' she said. Established in 2003 by Lee Kar Whatt, Eco-Shop sells the majority of items in its stores for RM2.60. It operates 350 stores across Malaysia and has a market share of 68% in the country's discount-store sector. Eco-Shop's IPO underlines the strength of Malaysia's consumer sector – which also attracted the country's biggest listing last year in mini-mart chain 99 Speed Mart Retail Holdings Bhd, which raised over US$530 million in Malaysia's biggest IPO in seven years. Malaysia's consumer spending is expected to see further strong growth in 2025, according to Fitch Solutions' BMI in a recent report. Household spending is expected to grow 5.2% this year, according to the report, marking a return to pre-pandemic levels of growth.
Malay Mail
29-04-2025
- Business
- Malay Mail
Discount chain Eco-Shop files for RM7b IPO amid retail sector growth
KUALA LUMPUR, April 29 — Eco-Shop Marketing Sdn Bhd, a Malaysian discount retail chain, plans to raise RM419 million in what will be the country's largest IPO in eight months. The company will offer 347 million shares at RM1.21 each, valuing Eco-Shop at RM7 billion, while also seeking an additional RM623 million through a private placement to institutional investors, Bloomberg reported today,. Maybank Investment Bank Bhd, a subsidiary of Malaysia's largest lender, is the sole underwriter of the IPO, with trading expected to begin on 23 May. Eco-Shop, which mainly sells items at RM2.60, plans to double its store count by opening 70 new outlets annually over the next five years using the funds raised. Chief executive officer Jessica Ng said the business model is especially relevant in the current cost-of-living environment, during the prospectus launch in Selangor. Founded in 2003 by Lee Kar Whatt, Eco-Shop currently operates 350 outlets across Malaysia and holds a dominant 68 per cent market share in the local discount retail sector. The IPO is the latest indicator of resilience in the Malaysian consumer sector, which also saw last year's largest listing in 99 Speed Mart Retail Holdings Bhd's US$530 million debut.
