ECO-SHOP Marketing Bhd saw its shares climb 6% on its debut on Bursa Malaysia’s Main Market, offering a rare win in a sluggish IPO environment.
The stock opened at RM1.25 today — up from its IPO price of RM1.13 — and closed at RM1.20, with over 200 million shares traded.
The dollar-store chain had trimmed its IPO price by 7% following underwhelming retail demand, though institutional interest remained strong.
The IPO raised RM974 million, making it the largest since 99 Speed Mart’s listing in August 2024.
Of that, RM392 million went to Eco-Shop and RM582 million to selling shareholders including founder Datuk Seri Lee Kar Whatt and private equity firm Creador.
Eco-Shop attracted 10 cornerstone investors such as AHAM Asset Management and Eastspring Investments, who collectively subscribed to over 90% of the institutional tranche.
Proceeds will fund expansion of Eco-Shop’s distribution network, new store openings, IT upgrades, and partial debt repayment.
The company operates over 350 stores nationwide, offering 10,000+ products mostly priced at RM2.60. –TMR
The post Eco-Shop shares up 6% on Bursa debut after IPO price cut appeared first on The Malaysian Reserve.
