99 Speed Mart Retail Holdings Bhd (Ticker: 99SMART MK) is a food retail company that operates Malaysia's largest domestic convenience mini-market chain. The company announced its IPO on August 15, 2024, and plans to list on Bursa Malaysia on September 9, 2024.

The IPO is priced at RM1.65 per share, with a total offer size of MYR 2.36 billion (USD 506 million), including 1.03 billion secondary shares and 400 million primary shares, making it the largest IPO in the country in 7 years. The expected market capitalization at the offer is MYR 13.86 billion (USD 2.97 billion).

The proceeds from the IPO, particularly from the MYR 600 million (USD 129 million) public issue, will be used to expand the company’s retail network, aiming to reach 3,000 outlets by 2025, and to build new distribution centers.

Affin Hwang Capital, CIMB Investment Bank Bhd, and RHB Investment Bank Berhad are the joint lead managers for the offering.