According to local media reports, the 99Speedmart supermarket chain plans to list on the Bursa Malaysia Stock Exchange (Bursa Malaysia), and the initial public offering (IPO) may involve RM1.5 billion.
Financial weekly The Edge pointed out that 99Speedmart has appointed CIMB Investment Bank to assist with listing matters and may be listed in the second half of 2024.
99Speedmart may expand to countries such as Singapore, Philippines, Indonesia and Vietnam. Currently, 99Speedmart has 2,463 stores in Malaysia, and the number of stores is still increasing. 2,500 stores may be opened this year.
Currently, 99Speedmart founder Li Lianghua and his wife Huang Liting hold 96% and 4% of the shares of 99Speedmart respectively.
