KUALA LUMPUR (Jan 29): KK Super Mart is planning a listing that would value the convenience store chain operator at around RM3 billion, Dow Jones Newswires reported on Thursday.
The company aims to be listed in the second half of the year, the newswires reported, citing unidentified people familiar with the matter. The initial public offering (IPO) is likely to account for over 25% of its equity value, the people added.
KK Super Mart, more commonly known as KK Mart, operates more than 900 outlets in the country and in India and Nepal, according to its website.
The planned IPO comes at a time of rising investor sentiment with the benchmark FBM KLCI hitting seven-year highs. Bursa Malaysia is also building a pipeline of listings that include high-profile names, including chip designer SkyeChip Bhd and hospital operator Sunway Healthcare Holdings Bhd.
A listing of KK Super Mart would also place it alongside peers like mini-market chain 99 Speed Mart Retail Holdings Bhd (KL:99SMART) and Eco-Shop Marketing Bhd (KL:ECOSHOP), which owns a network of dollar stores in the country.
KK Super Mart is also revisiting the IPO following a delay in 2024 when the company and its founder were caught in a controversy when socks bearing the word “Allah” were found to be sold at one KK Mart outlet.
A social media post on the product sparked outrage among Muslims who said it was religiously insensitive. KK Super Mart and the supplier Xin Jian Chang Sdn Bhd were each fined RM60,000 after pleading guilty to an offence under Section 298 of the Penal Code for wounding religious feelings.
KK Super Mart founder and chairman Datuk Seri Chai Kee Kan, his wife Datin Seri Loh Siew Mui, and three directors of Xin Jian Chang were acquitted of intentionally wounding the religious feelings of others, after the prosecution withdrew its case.
Source: https://theedgemalaysia.com/node/791071
KK SUPER MART EYES NEAR RM3 BIL VALUATION FOR LISTING LATER THIS YEAR — REPORT
KUALA LUMPUR (Jan 29): KK Super Mart is planning a listing that would value the convenience store chain operator at around RM3 billion, Dow Jones Newswires reported on Thursday.
The company aims to be listed in the second half of the year, the newswires reported, citing unidentified people familiar with the matter. The initial public offering (IPO) is likely to account for over 25% of its equity value, the people added.
KK Super Mart, more commonly known as KK Mart, operates more than 900 outlets in the country and in India and Nepal, according to its website.
The planned IPO comes at a time of rising investor sentiment with the benchmark FBM KLCI hitting seven-year highs. Bursa Malaysia is also building a pipeline of listings that include high-profile names, including chip designer SkyeChip Bhd and hospital operator Sunway Healthcare Holdings Bhd.
A listing of KK Super Mart would also place it alongside peers like mini-market chain 99 Speed Mart Retail Holdings Bhd (KL:99SMART) and Eco-Shop Marketing Bhd (KL:ECOSHOP), which owns a network of dollar stores in the country.
KK Super Mart is also revisiting the IPO following a delay in 2024 when the company and its founder were caught in a controversy when socks bearing the word “Allah” were found to be sold at one KK Mart outlet.
A social media post on the product sparked outrage among Muslims who said it was religiously insensitive. KK Super Mart and the supplier Xin Jian Chang Sdn Bhd were each fined RM60,000 after pleading guilty to an offence under Section 298 of the Penal Code for wounding religious feelings.
KK Super Mart founder and chairman Datuk Seri Chai Kee Kan, his wife Datin Seri Loh Siew Mui, and three directors of Xin Jian Chang were acquitted of intentionally wounding the religious feelings of others, after the prosecution withdrew its case.
Source: https://theedgemalaysia.com/node/791071