News Formal

99 Speed Mart targets 9.9 market debut as Malaysia’s biggest IPO in seven years, aims to raise RM2.36b

  • 📰 malaymail
  • ⏱ Reading Time:
  • 39 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 86%

99 Speedmart News

Initial Public Offering IPO,Bursa Malaysia

SHAH ALAM, Aug 15 — Mini-market retail chain 99 Speed Mart Retail Holdings Bhd will give a huge boost to the retail sector, in what will be Malaysia’s biggest initial public...

What we know so far: Muhammad Nidza Afham Mokhtar, the YouTuber found dead after he went for a jog and never came home

According to the prospectus, the IPO is priced at RM1.65 apiece and has attracted 14 cornerstone investors including Malaysia’s government-linked investment companies and asset managers, whose support covers 55 per cent of the IPO size. 99 Speed Mart is eyeing a geographical expansion of its outlets, with a target of 3,000 outlets in 2025 from the current 2,651 nationwide.

Lee said the retail chain launched “99 Bulksales” last year to tap into the retail and enterprise markets, allowing customers to purchase in bulk online.“We introduced the segment last year, targeting the central peninsular. We expanded it to the southern part of Malaysia and are consistently looking to expand the service, although we need to evaluate the logistics aspects,” he added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

99 Speed Mart signs retail underwriting agreement for Main Market IPOVideo-game voice actors will go on strike starting at 12:01am Friday after failing to come to an agreement over the use of artificial intelligence in the industry.
Source: staronline - 🏆 4. / 75 Read more »

99 Speed Mart eyes Sept market debut as Malaysia’s biggest IPO in seven years, sources saySINGAPORE, July 30 — Malaysia’s top mini-market chain retailer 99 Speed Mart Retail Holdings aims to make its market debut on September 9 after raising US$509 million (RM2.36...
Source: malaymail - 🏆 1. / 86 Read more »

99 Speed Mart targets 9.9 market debut as Malaysia’s biggest IPO in seven years, sources saySINGAPORE, July 30 — Malaysia’s top mini-market chain retailer 99 Speed Mart Retail Holdings aims to make its market debut on September 9 after raising US$509 million (RM2.36...
Source: malaymail - 🏆 1. / 86 Read more »