KUALA LUMPUR: Eco-Shop Marketing Bhd has signed an underwriting agreement with Maybank Investment Bank Bhd (IB) for its planned listing on the Main Market of Bursa Malaysia.
Eco-Shop said in a statement today that its initial public offering (IPO) entails up to 862.146 million shares, comprising an institutional offering of up to 675.368 million shares and a retail offering of 186.778 million shares.
CEO and executive director Jessica Ng said the IPO will not only enhance the company’s financial position but also strengthen its ability to capture the vast opportunities in Malaysia’s thriving value retail market.
“The demand for affordable, high-quality products remains robust, and this listing will raise proceeds to accelerate store expansion, expand distribution capabilities, and invest in information technology, among other initiatives.
“Positioned to capitalise on the growing dollar store retail sector in Malaysia, Eco-Shop plans to continue its expansion, particularly in suburban and rural areas, aiming to open about 70 new stores per year over the next five years,” she said.
The company said Eco-Shop offers a wide range of products at compelling value, including third-party and house-brand products.
“The underpenetrated Malaysian dollar store segment presents robust growth opportunities, with significant potential as consumers increasingly demand affordability and convenience,” the company said.
Maybank IB is Eco-Shop’s IPO principal adviser, joint global coordinator, joint book-runner and sole underwriter. – Bernama
