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Malaysia Convenience Store 99 Speed Mart to Raise $532 Million in Malaysia IPO at $3.1 Billion Valuation, Scheduled IPO Date is 9th September 2024, Cornerstone Investors Include AHAM Asset Management, Areca Capital, AIA, Great Eastern Life Assurance, Employees Provident Fund & Social Security Organisation, Founded in 1987 by CEO Lee Thiam Wah & Wife Ng Lee Tieng to Receive $383 Million from IPO Share Sale

Aug 16, 2024

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Malaysia Convenience Store 99 Speed Mart to Raise $532 Million in Malaysia IPO at $3.1 Billion Valuation, Scheduled IPO Date is 9th September 2024, Cornerstone Investors Include AHAM Asset Management, Areca Capital, AIA, Great Eastern Life Assurance, Employees Provident Fund & Social Security Organisation, Founded in 1987 by CEO Lee Thiam Wah & Wife Ng Lee Tieng to Receive $383 Million from IPO Share Sale

16th August 2024 | Hong Kong

Malaysia convenience store 99 Speed Mart Retail Holdings is targeting to raise $532 million (MYR 2.36 billion) in Malaysia IPO at $3.1 billion (MYR 13.8 billion) valuation, with the scheduled IPO date on 9th September 2024. The IPO is priced at RM 1.65, with the retail offering to close on 23rd August 2024 and institutional offering to close on 27th August 2024. Cornerstone investors include AHAM Asset Management, Areca Capital, AIA, Great Eastern Life Assurance, Employees Provident Fund & Social Security Organisation. 99 Speed Mart was founded in 1987 by CEO Lee Thiam Wah, and operates more than 2,600 stores in Malaysia. Lee Thiam Wah & his wife Ng Lee Tieng will receive $383 million (MYR 1.7 billion) from the IPO share sale.

“ Malaysia Convenience Store 99 Speed Mart to Raise $532 Million in Malaysia IPO at $3.1 Billion Valuation, Scheduled IPO Date is 9th September 2024, Cornerstone Investors Include AHAM Asset Management, Areca Capital, AIA, Great Eastern Life Assurance, Employees Provident Fund & Social Security Organisation, Founded in 1987 by CEO Lee Thiam Wah & Wife Ng Lee Tieng to Receive $383 Million from IPO Share Sale “

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Malaysia Convenience Store 99 Speed Mart to Raise $532 Million in Malaysia IPO at $3.1 Billion Valuation, Scheduled IPO Date is 9th September 2024, Cornerstone Investors Include AHAM Asset Management, Areca Capital, AIA, Great Eastern Life Assurance, Employees Provident Fund & Social Security Organisation, Founded in 1987 by CEO Lee Thiam Wah & Wife Ng Lee Tieng to Receive $383 Million from IPO Share Sale

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