Mr DIY revives IPO plan, launches new format
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Mr DIY Group has revived plans for a US$500 million IPO following the postponement in March due to the coronavirus.
The deal, which could be the largest Malaysian IPO in four years, is now pending the enthusiasm of potential investors and could be scheduled for October. It would be singularly responsible for lifting the country’s beleaguered equity capital market, floundering at just $70.7 million worth of IPOs thus far this year.
Mr DIY saw record sales in May and June following the partial lifting of Malaysia’s movement restriction order.
The firm has recently launched its new dollar store concept in the territory, selling snacks, drinks and food items for either RM2 or RM5, while its core business is now trading in Vietnam through a franchise partner, with two stores already in business and another under construction in Ho Chi Minh City’s Estella Place, scheduled to open in October.
Questions & Answers
Q.Why was Mr DIY's IPO postponed earlier this year?
Why was Mr DIY's IPO postponed earlier this year?
The IPO plans were initially postponed in March due to the coronavirus pandemic. The company has now revived its intention to go public, with a potential October schedule.
Q.What is Mr DIY's new store format, and what does it offer?
What is Mr DIY's new store format, and what does it offer?
Mr DIY has launched a new dollar store concept within Malaysia. These stores sell snacks, drinks, and food items, priced at either RM2 or RM5 per product.
Q.How is Mr DIY expanding its core business internationally?
How is Mr DIY expanding its core business internationally?
Mr DIY is expanding into Vietnam through a franchise partner. Two stores are already open, and a third is under construction in Ho Chi Minh City, scheduled to open in October.
Q.What impact could Mr DIY's IPO have on Malaysia's equity capital market?
What impact could Mr DIY's IPO have on Malaysia's equity capital market?
The potential US$500 million IPO would be solely responsible for significantly boosting the country's equity capital market. This market has only seen $70.7 million worth of IPOs this year.
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