Malaysian retailer 99 Speed Mart seeks IPO listing

The minimarket has over 2,542 locations, as of 2024.

Malaysia-based minimarket retailer 99 Speed Mart Retail Holdings filed a draft prospectus for an initial public offering (IPO) on the main market of Bursa Malaysia Securities Berhad (Main Market).

According to Securities Commission Malaysia, the IPO issued is comprised of up to 1.428,000,000 ordinary shares in conjunction with the listing of and quotation for the entire enlarged issued ordinary shares in 99 Speed Mart.

The offer comprises the sale of up to 1,028,000,000 existing shares and a public issue of 400 million new shares. This involves an institutional offering of around 1,218,000,000 IPO Shares to Malaysian institutional and selected investors, and a retail offering of 210 million Issue Shares to the directors and eligible employees of 99 Holdings and fellow subsidiaries.

ALSO READ: Malaysian retailer KK Super Mart to expand in Uzbekistan

Shares to be issued are subject to clawback and reallocation provisions and the over-allotment option.

Apart from their engagements in investment holding and provision of management services, 99 Holdings has mobilised its retail activities, mostly involving fast-moving consumer goods over its network of minimarkets in Malaysia and exports of consumable merchandise and household products.

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