Eco-Shop launches Malaysia’s biggest IPO in eight months, aiming to raise up to RM1.04b

The IPO will offer 862.15 million shares, with 675.37 million for institutional investors (priced via bookbuilding) and 186.77 million for retail investors at RM1.21 per share.

The IPO has secured ten investors acting as a cornerstone investor, collectively subscribing for 90.91 million shares or 90.31% of the institutional offering, excluding the Bumiputera offering under the Ministry of Investment, Trade and Industry.


Opening Date : 29 Apr 2025
Closing Date : 07 May 2025
Ballot Date : 09 May 2025
Listing Date : 23 May 2025
Final Retail Price : RM1.13

This post has been edited by nexona88: May 22 2025, 07:51 PM

Another Mr DIY like IPO

But after that 🤦‍♀️

From the same promoter @ Creador

😁

When Brahmal name mentioned expect the IPO oversubscribed to be very high

his name & the company linked always brings the numbers in....

Eco shop I feel is getting worst only

Not to mention many copycats also

Mr Diy at least still remain strong n monopoly

So...
Not good prospect this company then?

Normally u see got crowds or not?

DIY I know, got crowds during weekends... Ordinary days almost zero people even in the evening or night 😁

For me initially it was super hype n I would also go in n buy at leats rm50 above

Now not so much adi

So the hype have gone off then...

Need to get more details then... On the IPO... Later 👍

Now economy is bad hence you see ppl spending less and baskets is getting smaller 🤦‍♀️

Initially when they started at rm2 hype was there and when everytime it raises price by by 10% crowds is getting lesser

If you compared with Mr DIY it is not that great as they have raising prices silently hence sales been dropping last year after initial boom during pandemic

Eco shop still got staples hence dividend policy if any should be given at least

Last year I went to a few eco their restocks are getting worst

Last time used to be full and items all available so u have the feel of buying

Now some sections are even empty so its boring already

Its the psychology

Their cash burn issue hence hiring lesser staffs

It also depends which outlet you go also as those with high traffic the shelves are consistently full

Just sub if can get and run when profit abit.

My lima cent view

they updated all these 2.20 signboards already?

feel like such a waste, to go from 2.00 to 2.20 then 2.40

Nothing to do waste but because cost is rising due to inflation 🤦‍♀️

BUMP

Eco-Shop launches Malaysia’s biggest IPO in eight months, aiming to raise up to RM1.04b
https://theedgemalaysia.com/node/753358

RM1.21 or RM2.60?

I see it's rm1.21 ooohhh

Both online & printed (came out in newspaper)

“Eco-Shop has secured commitments from ten cornerstone investors, collectively subscribing for 90.91 million shares, representing 90.31% of the institutional offering (excluding the Bumiputera portion under Miti).

The cornerstone investors include AHAM Asset Management, Albizia Capital Pte Ltd, Areca Capital Sdn Bhd, Eastspring Investments Bhd, Kairous Equity Sdn Bhd, Kenanga Investors Bhd, Kenanga Islamic Investors Bhd, Lion Global Investors Ltd, RHB Asset Management Sdn Bhd and RHB Islamic International Asset Management Bhd.”

If we refer to MrDiy and 99Speedmart cases, the biggest winner are institutions and non-bumi because Bumi dont have fund for main market IPO. Public allocation goes to non-bumi while MITI allocation goes to institutions.

70 more shops to open annually within 5 years.
Smaller shares compared to MrDiy and 99s.
Similar biz like MrDiy and 99s.
RM2.60 products everyone can afford.
Well known/established shop in Malaysia.
Increased inflation will drive people to dollar shop.
Not related to US trade tariff issue.

#tayor

biggest question is it's IPO expensive or not?

PE okay?

Never been inside....

1.21 seems kinda expensive for an ECO shop...

will it work this time?

Based on Eco-Shop’s planned debut on the Main Market of Bursa Malaysia at an offer price of RM 1.21 per share (slated for May 23, 2025), here’s a reasoned projection:
1. Comparable IPO first-day “pop.”
– 99 Speed Mart, a similar discount-retail chain, opened at RM 1.85—about a 12 percent premium over its RM 1.65 IPO price—when it listed in September 2024  .
– More broadly, Malaysian IPOs this year have averaged first-day gains of around 7 percent .
2. Predicted opening range.
– 7 percent gain on RM 1.21 → RM 1.30
– 12 percent gain on RM 1.21 → RM 1.36
A midpoint of these (≈9–10 percent) suggests an opening price around RM 1.32–1.34.
3. Is RM 1.21 “reasonable”?
– Eco-Shop’s implied pro-forma price/earnings ratio at RM 1.21 is roughly 39× 2024 earnings .
– By contrast, 99 Speed Mart listed at about 25× 2024 earnings .
– A higher multiple (39× vs. 25×) indicates that Eco-Shop is entering the market at a premium valuation relative to its closest peer—suggesting the IPO price is aggressive, assuming similar growth profiles.
4. Bottom line.
• Opening‐price forecast: RM 1.32–1.34 per share.
• Valuation comment: RM 1.21 is on the high side—Eco-Shop is pricing at a materially richer P/E than 99 Speed Mart. Investors should look for strong execution (store expansion, same-store sales growth) to justify that premium.

Keep an eye on trading momentum in the first hour: if demand mirrors past “dollar-store” listings, you could well see a 10–12 percent opening pop; if sentiment is more muted, gains may be closer to the market average of 7 percent.

Got some

But recent IPOs perform quite badly 🤔 wondering if Eco can reverse this trend

Got any TP out ? Share some
This can buy?

Not yet, you can check for amoi review of ECO SHOP IPO (Click here)

High likely EPF to join like previous ipo - 99speedmart, MrDiy, CTOS.

#tayor

High profile listings

Sure local institution funds like EPF, PNB, those insurance companies join as investors 💪🔥

This post has been edited by nexona88: May 2 2025, 03:33 PM

heavy investment wor

takut nanti listing discount 10 cts

ham chin pang pon habis

Don't WOLI.....even today gravely undersubscribed IPO open GREEEEEN

what's more & so special about this IPO ..?

this is a BILLIONAIRE MAN IPO ECO SHOP...



the last BILLIONAIRE MAN IPO was SPEED 99 >> performed

BTW ..if want worry free - 3 % guaranteed peanut..there is a BANK FD@FIXED DEPOSIT 3 % after 365 days

This post has been edited by IPO ADDICT: May 5 2025, 01:29 PM

High profile listings for the year...

Might move positive side, but don't hope for big upwards movement.... It's size...

so far any TP?

I give 1.25.😁

Will buy below IPO price.

Ok can buy, taruh all in

reasonable but nothing fantastic.

JOLLY PARTY IS COMINGG

Redemption time.

MrDiy current rating = BuyBuyBuy. Even EPF chip in more shares.

RM1.21 is cheaper than MrDiy & 99speedmarts with more upside possibilities.

RM0.20 more income per product from April 2025. Last time they increase in RM0.20 in June 2022 profit rocketed.

#tayor

people don't care peanut 20 sen increase....nothing

to ECO SHOP is a GENIUS tactical

Ya peanut only , still good business everyday.
Like costco to me 😁

MBB 4,500 at 930am from other group.

#tayor

IPO = It's Probably Overpriced

I skip, good luck those apply.Maybe green good luck. If red opening, no luck.

What's the numbers going now?

Around 30mins to go

Good luck for balloting
Hope for the best

haha, if allotted, do u consider it as good or bad?

This post has been edited by mhwee: May 8 2025, 04:13 PM

You got masuk ?

Temporarily stopped all IPO application 😊

what do you mean from the other group?

Sorry if sounds like a noob question. Does this means that we can get the share at 1.13 instead of 1.21?

Yes.

Because final price is lower

Balance would be refunded back to your account

Ballot out.

Congrats to non-bumi & institutions shareholders.

675.368m for institutions fully subscribed
114.94m for public fully subscribed.

#tayor

other than lowyat forum.

Congrats all

reading the comments here, I suppose it's good if u did not get the shares :-)

Decent numbers......

Not everyone gets 100% which is positive enough... I would say in this current situation......

when will know ?

Will stronger MYR benefits retailers?

Tuesday morning

Since Monday is public holiday

tiger bank still sleeping, even just oversub 0.96 times

ah, understood. thanks.

After 7pm only 😕

Near my place, can see very much less customers since the price increase to 2.60. It will come to a point where they'll be no longer seen as affordable

Result out liao, check your app / acc 😁

0.96 times also i tak kena.

PETALING JAYA: Eco-Shop Marketing Bhd has lowered the final retail price for its initial public offering (IPO) to “put more money on the table” for investors, amid soft market conditions.

A source with knowledge of the deal also told StarBiz that private equity firm Creador had to sell its Eco-Shop shares more than it wanted to, in order to meet Bursa Malaysia’s public float requirement of 15%.

Creador, which was previously behind prominent IPOs such as CTOS Digital Bhd and MR DIY Group (M) Bhd, also backs Eco-Shop with a 10% pre-IPO stake.

“Creador wanted to keep a 5% equity interest, but had to sell down 80% of its original stake to make available enough shares for the free float. Post-IPO, it will have a 1.9% stake in Eco-Shop,” according to the source.

Scheduled to be listed on the Main Market on May 23, Eco-Shop saw the shares allocated for the public being subscribed by 1.96 times the amount available.

This represents an overall oversubscription rate of 0.96 times, as reported by Eco-Shop on May 9.

For a highly anticipated IPO that is also the largest listing in over eight months, some market observers said the oversubscription rate could have been bigger.

To put it into perspective, the three companies listed on the Main Market so far this year had seen a better response from retail investors.

The public portion of Sarawak-based telecommunications company Reach Ten Holdings Bhd’s IPO was oversubscribed by 1.85 times, bus operator HI Mobility Bhd (6.57 times) and pipemaker Pantech Global Bhd (44.93 times).

Last year’s largest IPO – 99 Speed Mart Retail Holdings Bhd – was oversubscribed by 3.04 times.

However, to be fair, the stock market was in a better shape then. The current IPO market – to Eco-Shop’s disadvantage – has been soft amid global market volatility.

All nine listings on the ACE Market since March this year had declined on the first trading day.

The global tariff war has affected investor sentiment.

Nonetheless, Eco-Shop received a total of 18,308 applications for 225.2 million shares from the public.

This was despite only 114.94 million shares offered to the public.

At the same time, the response from cornerstone institutional investors including Permodalan Nasional Bhd remained robust, according to the source.

“In fact, the institutional investors wanted more Eco-Shop issue shares. But, the company only offered 15% of the share base as there was no necessity to raise more cash.

“When Eco-Shop went out to institutions, it had a demand of over 1.2 billion shares. But it only had 430 million shares to give out, so it had to cut many investors,” said the source.

When asked about the undersubscription for the retail bumiputra portion, the source said the initial response for Eco-Shop’s IPO was strong.

However, as the US tariff war worsened and weakened the overall market sentiment, the final demand from retail bumiputra investors was only for 38.4 million shares.

This was lower than the 57.47 million shares offered to retail bumiputra investors.

It is noteworthy that companies seeking listing on Bursa Malaysia are required to allocate 12.5% of the enlarged number of issued shares upon listing to bumiputra investors to be approved or recognised by the Investment, Trade and Industry Ministry (Miti).

In the case of Eco-Shop, it obtained a waiver to reduce the requirement to 10%.

“However, in the end, the Miti retail demand was low at only 2.5%, so 7.5% flowed back to the pool,” the source explained.

The unsubscribed bumiputra shares have been clawed back and re-allocated to institutional investors, who have taken up all the shares.

In view of the soft market conditions, Eco-Shop has fixed the final retail price at RM1.13, down by 6.6% from the earlier indicative issue price of RM1.21.

“The original price range was RM1.10 to RM1.21, so the final retail price was fixed at RM1.13.

“It was fixed closer to the lower end of the range to put more money on the table and to make the IPO attractive.”

The source pointed out that Eco-Shop’s IPO was priced 10% below 99 Speedmart’s valuation at IPO.

“The forward price-to-earnings ratio (post-money) for Eco-Shop is estimated at 26 times, compared with 99 Speedmart’s 28 times.”

The more prudent valuation does not signal weak prospects for Eco-Shop going forward, the source said.

“Internal earnings projections showed that the profit after tax in the financial year of 2026 (FY26) will reach RM250mil as compared to RM177.3mil in FY24,” said the source.

“Perhaps, this explains why the company owners do not want to sell too much of the shares,” the source added.

already 4.30pm, looks like no luck for me even only oversub 0.96

I got all.



Hoping for good opening, based on 99speedmart and MrDIY trends

another Sen Heng

you see ecoshop cashier busy or not

Tiger bank still on wesak day cuti, pending results

I finally strike after trying so many IPOs :-)

why the hell maybank so slow? anyone got it for maybank?

Congrats!

https://theedgemalaysia.com/node/755016

They also want revise price ..

Have you received any updates from tiger bank?

Not yet receive, Tiger Bank really Suck to Max !

Wrong topic boss...

It's Coockoo, not eco shop

Is tiger still sleeping ?

yes still as of now

Hrmm i got some, see 25th green or red…. I think can be green most eco i see mostly full and a few quite pack at evening time

This post has been edited by froz3nnoob: May 14 2025, 06:18 PM

good or not remains to be seen....

Saya mohon 200.1 lot. Kalau ikut undian saya akan dan 150 lot. Duit pemulangan di acc berjumlah RM16008.00. Saya tak dapat mengiranya kerana saya Matematik tak lulus. Siapa boleh memberi pertolongan. Terima kasih.

100% allocation... Good or Bad ?

You mean your refund is rm16,008 ?
Just times your balance charged amount with rm1.13 you will know get how many lot

A person who knows how to apply 200,100 shares but does not know how to calculate the amount refunded ?

Sure or not ?

Not forgetting lower final IPO pricing too...

It's shows & indicate something 😊

I don't believe

Definitely not a good sign. Lowered listing price and with under subscribed bumi portion, and dump all to public. Mean will open red.

Yes. Very highly possible situation...

The selling vendors shareholders knows market situation now.... You go put high price, open even worse... They lose face...

Good luck to IPO allocated investor....

anybody want to guess what will be the opening price for ecoshop on day 1?

TOP RM1.20
Close RM1.00

With the size of offering & revaluation of IPO pricing...

Could be around 2 or 3 cents premium open before dropped below IPO price...

very scary now