KK Mart plans Bursa Malaysia IPO with 840 million share offering
The sale involves as many as 630 million existing shares and the issuance of 210 million new shares
Add BT as a preferred source
[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 on Monday (Apr 20).
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 towards 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
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Tiger Brokers, Moomoo, Longbridge Singapore units ‘financially independent’ amid China crackdown: MAS
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Johor property old hand KSL readies family handover amid market boom
As India and China surge ahead with nuclear energy, all eyes on Asean’s next move
