Malaysian convenience store chain KK Mart Retail is preparing an initial public offering (IPO) of up to 840 million shares on Bursa Malaysia’s Main Market.
A draft prospectus filed with the Securities Commission Malaysia shows the offering will comprise up to 630 million existing shares and 210 million new shares.
Proceeds from the new shares will go to KK Mart Retail while funds raised from the sale of existing shares will be paid in full to the selling shareholders.
The filing does not state an offer price, the total funds expected to be raised, or a targeted listing date.
KK Mart Retail operates the KK Super Mart and KK Mart convenience store chains through its subsidiaries, with 996 outlets across Malaysia, mainly in Kuala Lumpur and Selangor.
The company was incorporated in September 2023 as KK Supergold Sdn Bhd, renamed KK Mart Retail in February 2025, and converted into a public limited company last month.
According to the prospectus, KK Mart Retail intends to increase its store footprint to more than 1,500 outlets by June 2028.
The company also plans to spend on logistics and distribution facilities, digital platforms and the development of house-brand products.
Of the total offering, up to 735 million shares are allocated to institutional and selected investors, including Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Pricing for this tranche will be determined through a book-building process.
The remaining 105 million shares are designated for retail investors, including directors, eligible employees and the Malaysian public.
Within this portion, 35 million shares are reserved for eligible participants while 70 million shares are available for public subscription, with half allocated to Bumiputera investors.
Within the institutional tranche, 437.5 million shares are set aside for Bumiputera investors, and up to 297.5 million shares for other institutional and selected investors.
The final retail price will be set at the lower of the institutional price or the retail price.
The IPO structure also includes clawback and reallocation provisions, as well as an overallotment option.
