KUALA LUMPUR – Malaysian home goods retailer MR DIY Group (M) Bhd’s RM1.5 billion initial public offering (IPO) will be listed on the main market of Bursa Malaysia on October 26.
The IPO price is set at RM1.60 per share, CEO Adrian Ong told a virtual press conference today.
He said the company's performance improved after the movement control order, allowing it the opportunity to revive its IPO bid.
The company registered sales of RM1.051 billion in the first half of the year, compared with RM1.097 billion in the same period last year.
For the whole of 2019, sales jumped to RM2.28 billion from RM1.77 billion the previous year.
MR DIY, the largest home goods chain in the country with an estimated market share of 29.1% last year, aims to increase the number of its stores to 900 next year from 593 as of December 31 last year. – Bernama, October 6, 2020
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