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Project Bodhi's Target Company Mr. DIY is Largest IPO on Bursa since 2017
January 12, 2021
MR DIY Group (M) Bhd’s initial public offering (IPO) raised RM1.5 billion, making it the largest in three years and the only listing to surpass the billion-ringgit threshold this year.
The retailer made its debut on Bursa Malaysia’s Main Market on Oct 26, and holds the distinction of being the country’s biggest listing of a retailer to date. The previous IPO of any real size was that of petrochemical group Lotte Chemical Titan, which raised RM3.77 billion in its public share sale in 2017.
Mr DIY’s market capitalisation of RM10 billion upon listing — based on its IPO price of RM1.60 per share — was even bigger than that of a number of better-known companies, including airport operator Malaysia Airports Holdings Bhd (RM9.18 billion) and national postal service provider Pos Malaysia Bhd (RM853.23 million). Its RM10 billion valuation, based on its enlarged share base of 6.28 billion, values the retailer at 31.6 times its earnings per share of 5.06 sen for the financial year ended Dec 31, 2019.
With an estimated market share of 29.1% in 2019 and based on RM2.28 billion in revenue in FY2019, Mr DIY is the largest home improvement retailer in Malaysia. Link to full article.
The retailer made its debut on Bursa Malaysia’s Main Market on Oct 26, and holds the distinction of being the country’s biggest listing of a retailer to date. The previous IPO of any real size was that of petrochemical group Lotte Chemical Titan, which raised RM3.77 billion in its public share sale in 2017.
Mr DIY’s market capitalisation of RM10 billion upon listing — based on its IPO price of RM1.60 per share — was even bigger than that of a number of better-known companies, including airport operator Malaysia Airports Holdings Bhd (RM9.18 billion) and national postal service provider Pos Malaysia Bhd (RM853.23 million). Its RM10 billion valuation, based on its enlarged share base of 6.28 billion, values the retailer at 31.6 times its earnings per share of 5.06 sen for the financial year ended Dec 31, 2019.
With an estimated market share of 29.1% in 2019 and based on RM2.28 billion in revenue in FY2019, Mr DIY is the largest home improvement retailer in Malaysia. Link to full article.