SINGAPORE: KK Mart Retail Bhd, which operates the KK Super Mart and KK Mart convenience store chain, plans to launch an initial public offering on Bursa Malaysia, according to a draft prospectus filed with the Securities Commission Malaysia late Monday.
* The prospectus exposure does not disclose details on the IPO price, total fundraising size, or listing timetable.
* KK Mart currently operates 996 convenience stores across Malaysia, offering everyday essentials along with services such as bill payments and mobile top-ups.
* The IPO will involve up to 840 million shares, including the sale of as many as 630 million existing shares and the issuance of 210 million new shares.
* Proceeds from the new shares will be allocated toward expanding store operations and distribution centres, investing in digital and IT capabilities, repaying bank loans, and covering listing-related expenses.
* Maybank Investment Bank is acting as the principal adviser, sole bookrunner, sole underwriter, and sole placement agent for the offering. - Reuters
