99 Speed Mart in blockbuster IPO

To date, 99 Speed Mart’s IPO has attracted 14 cornerstone investors.

PETALING JAYA: Mini-market chain retailer 99 Speed Mart Retail Holdings Bhd has launched its initial public offering (IPO) which will raise RM2.36bil, the country’s largest IPO in seven years.

Priced at RM1.65 per share, 99 Speed Mart’s IPO exercise entails a public issuance of 400 million new shares as well as an offer for sale of 1.03 billion existing shares, with 1.22 billion shares allocated to institutional investors and the remaining 210 million shares for retail investors.