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Home News Current Affairs

RM2.40 Eco-Shop Company Backed By Creador Could Raise Up To RM800 Million IPO In Malaysian Market

by Rachel Chuah
March 15, 2023
Sources: Foursquare/SpaceMoney

Sources: Foursquare/SpaceMoney

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Eco-Shop Marketing Sdn. has been a boon to Malaysia, given that it’s famous for selling its goods at RM2.40. Established in 2003, it currently has over 200 branches in Malaysia. However, things have taken a turn for the better since 2019 when private equity firm Creador Capital Group acquired shares in the company.

According to Bloomberg, sources claim Eco-Shop, backed by Creador, is currently weighing an initial public offering (IPO) in Kuala Lumpur. On the authority of those well-acquainted with the matter, this offer could potentially raise as much as RM800 million.

Source: China Press

Said sources have requested to not be identified as the process is a private one. However, the company is allegedly currently working with financial advisers on the planned first-time share sale. The sources also stated that a listing could happen as early as September. But, they added that as deliberations are still ongoing, details such as the size and timing of the IPO could still change.

Creador and Eco-Shop have yet to respond to requests for comment. However, Bloomberg has noted that this potential IPO would be Creador’s third one since 2020. It’s previous listing was by DIY Group (M) Bhd which amounted to RM1.5 billion. And in 2021, CTOS Digital Bhd. raised about RM1.2 billion.

Source: beegin

The Malaysian IPO market has only held two offering so far this year, which raised a total of $76.7 million (~RM343 million). As such, according to Bloomberg’s data, any deal will help boost the market.

Aside from Eco-Shop, it seems DXN Holdings Bhd. is also hoping to list on the Bursa Malaysia. Reportedly, state-owned Johor Corp. too is working with their consultants on a domestic listing of its plantation unit this year.

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Sources: Bloomberg, China Press

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