A total of 13,057 applications for 416,121,500 IPO Shares we...
A total of 13,057 applications for 416,121,500 IPO Shares were received from the Malaysian public for the 30,000,000 IPO Shares made available for application by the Malaysian public, representing an overall oversubscription rate of 12.87 times.
According to the prospectus, the group intends to allocate the gross proceeds from its Public Issue amounting to RM 172.50 million for the following purposes: cash capital for the existing 23 pawnshops, expansion of pawnshops, and for listing expenses.
Well Chip is an investment holding company and through its subsidiaries (collectively, the "Group"), the Group is principally involved in the provision of pawnbroking services and, retail and trading of jewellery and gold. According to a report by Protégé Associates, the company has captured a 6.6% market share of the pawnbroking industry in Malaysia in 2023. Moving forward, the industry is expected to expand at a CAGR of 11.4% from RM3.55 billion in 2024 to RM5.29 billion in 2028.
According to the prospectus, the group intends to allocate the gross proceeds from its Public Issue amounting to RM 172.50 million for the following purposes: cash capital for the existing 23 pawnshops, expansion of pawnshops, and for listing expenses.
Well Chip is an investment holding company and through its subsidiaries (collectively, the "Group"), the Group is principally involved in the provision of pawnbroking services and, retail and trading of jewellery and gold. According to a report by Protégé Associates, the company has captured a 6.6% market share of the pawnbroking industry in Malaysia in 2023. Moving forward, the industry is expected to expand at a CAGR of 11.4% from RM3.55 billion in 2024 to RM5.29 billion in 2028.
Well Chip's Shares Skyrocket by 46.96% to RM1.69 on First Day of Trading
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