KUALA LUMPUR — Malaysian grocery chain 99 Speed Mart Retail Holdings plans to expand the number of stores it operates nationwide to 3,000 next year after debuting on the local bourse on Monday with the country's biggest initial public offering since 2017.
The company's shares opened at 1.85 ringgit on Monday, 12.1% higher than the IPO price of 1.65 ringgit per share. The IPO price values the company at about 14 billion ringgit ($3.2 billion).