InvestIdeas

With the new IPO price, the company will raise RM382mil instead through the public issue of 347 million new shares while another 515.15 million new shares will be sold via an offer for sale.

The IPO will consist of an institutional offering of 675.37 million shares and retail offering of 186.78 million mainly to its directors and employees.

In a separate filing, Eco-Shop stated the institutional offering has been fully subscribed while shares offered to the public were oversubscribed by 0.96 times.

Operating as a dollar chain store, Eco-Shop currently has about 350 stores nationwide and is planning to expand by opening up another 70 stores within one year after listing.