Account Info
Log Out
English
Back
Download
Log in to access Online Inquiry
Back to the Top

Market Mover | 99 Speed Mart Surged Over 15% on Its IPO Debut

avatar
Moomoo IPO Hub wrote a column · Sep 8 21:07
September 9, 2024 - $99SMART (5326.MY)$ saw its shares surge by over 15% on its first trading day on Monday, soaring to RM1.90 from an initial issue price of RM1.65. Moreover, the public portion of its initial public offering (IPO) was oversubscribed by 3.04 times.
Market Mover | 99 Speed Mart Surged Over 15% on Its IPO Debut
Significantly, $99SMART (5326.MY)$ published its financial report for the second quarter of 2024 on September 2. The report revealed that the company's revenue for the quarter reached RM2,419 million, with a net profit of RM126 million and earnings per share (EPS) of 1.57 sen.
The company, an investment holding firm, owns four subsidiaries, including "99 Speedmart," a leading mini-market chain in Malaysia. It also owns two Chinese subsidiaries that focus on investment and sourcing goods. According to the IMR Report 2022, the company dominates Malaysia's mini-market sector with a 37.9% share and is a key grocery retailer with an 11.1% share.
The funds raised, totaling RM660 million, will be allocated towards several key areas: outlet and DC expenditure, repayment of existing bank borrowings, and the establishment of a COE for software solutions.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
34
5
4
2
+0
8
Translate
Report
57K Views
Comment
Sign in to post a comment
avatar
Moomoo IPO Hub
moomoo Official Account
Follow to get the latest IPO opportunities on moomoo!
1900Followers
12Following
1291Visitors
Follow