PETALING JAYA: Eco-Shop Marketing Bhd is set to raise RM419.87 million through its Main Market debut on Bursa Malaysia, marking the largest IPO in eight months.
The company will issue 347 million new shares at RM1.21 apiece to the public, alongside 675.37 million shares for institutional investors via book-building.
Ten cornerstone investors have already secured 90 per cent of the institutional offering.
Chief executive officer Jessica Ng said the group remains resilient despite global market uncertainties, citing Eco-Shop’s ultra-affordable model as a strength amid rising costs.
She noted that its strong sourcing, bulk purchasing, and repackaging capabilities continue to drive competitiveness.
Of the IPO proceeds, RM200 million will go toward expanding distribution centres, RM56.27 million for new store openings, and RM100 million for debt repayment.
The remainder will fund IT upgrades, working capital, and listing expenses.
Eco-Shop, which raised its product prices from RM2.40 to RM2.60 in April to support higher staff wages, plans to open 70 stores annually over the next five years, focusing on the Klang Valley and East Malaysia.
Its listing is scheduled for May 23. – BERNAMA
