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
