Eco-Shop opens higher on Main Market debut, bucking recent IPO trend
KUALA LUMPUR: Eco-Shop Marketing Bhd made a strong debut on Bursa Malaysia's Main Market, opening at RM1.25, a 12 sen or 10. per cent premium over its initial public offering (IPO) price of RM1.13.
The counter was the most actively traded stock at market open, with over 25 million shares changing hands. The listing, which raised RM392.11 million, is Malaysia's largest IPO in the past nine months.
Eco-Shop is the 22nd company to list on Bursa this year, standing out against a backdrop of subdued first-day performances from recent IPOs, particularly since Pantech Global Bhd's debut on March 3.
The listing brings the fixed-price retail chain's market capitalisation to RM6.49 billion based on the IPO price. At the opening price of RM1.25, Eco-Shop's market capitalisation rose to about RM7.18 billion.
Founded in 2003, Eco-Shop operates 349 outlets across Malaysia as of March 2025, offering everyday items such as snacks, kitchenware and household essentials.
The brand is known for its fixed pricing model, RM2.60 in West Malaysia and RM2.80 in East Malaysia, which has resonated with price-sensitive consumers.
The company plans to open 70 new stores this year, representing a 19.6 per cent expansion in its store network, outpacing Mr DIY's 12.9 per cent and 99 Speed Mart's 5.9 per cent, according to a report.
Proceeds from the IPO will fund the construction of a semi-automated distribution centre in Klang and support new store openings.
In its latest quarterly results ended Feb 28, 2025, Eco-Shop reported a 45 per cent year-on-year increase in net profit to RM61.72 million, while revenue rose 17.2 per cent to RM736.35 million.
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