99 Speed Mart eyes Sept market debut as Malaysia's biggest IPO in 7 years, sources say

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99 Speed Mart eyes Sept market debut as Malaysia's biggest IPO in 7 years, sources say

SINGAPORE - Malaysia's top mini-market chain retailer 99 Speed Mart Retail Holdings aims to make its market debut on Sept. 9 after raising $509 million in an IPO set to be launched next month and which would be the country's biggest in seven years, two people said.

The initial public offering comprises up to 1.03 billion existing shares and 400 million new shares, the prospectus showed. The offering will also be Southeast Asia's biggest IPO in over one year since Amman Mineral Internasional's listing in Indonesia in July last year, the data showed. An active pipeline, including the planned IPO of Malaysian mobile data service company U Mobile that is expected to raise more than $500 million, would help carry the current strong IPO market activity in Malaysia into next year.

 

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