Latham-led CLO closes $230 million IPO for Eco-Shop in Malaysia, guided by ASL
In a significant move for the Malaysian business landscape, Eco-Shop Marketing, a leading discount store chain, has made its initial public offering (IPO) on Bursa Malaysia, the country's largest stock exchange. This IPO, valued at 974.2 million ringgit, marks the largest in Malaysia for the year 2025.
Eco-Shop, with a 68 percent market share in Malaysia's discount-store sector, operates 350 stores across the country. The company, established in 2003 by Lee Kar Whatt, has made a name for itself by offering affordable items priced at 2.60 ringgit in most of its stores.
The legal advisors for Eco-Shop Marketing during its IPO were Christopher & Lee Ong and Latham & Watkins. Annette Soh, head of the capital market practice at Christopher & Lee Ong, led the team, while Sharon Lau, a Singapore corporate partner at Latham & Watkins, took the helm. Jeremy Wang and Margarita del Rosario were also key members of the Latham & Watkins team.
Adnan Sundra & Low and Baker & McKenzie.Wong & Leow, on the other hand, represented the joint global coordinators and joint bookrunners in the Eco-Shop Marketing IPO. Their specific roles in the process were not explicitly stated, but they played a crucial part in the successful execution of the IPO.
Last year, 99 Speed Mart Retail Holdings, another major player in the retail sector, raised over $530 million in Malaysia's biggest IPO in seven years. However, the specific legal advisors for 99 Speed Mart Retail Holdings during their IPO are not currently known.
The IPO of Eco-Shop Marketing is a significant milestone for the company, marking its transition from a private to a public limited company. The company was converted on 29 January 2024 and made its IPO around mid-2024, with investment banks like CIMB Investment Bank involved in related activities.
Without access to the company’s IPO prospectus or filings with Bursa Malaysia, or explicit disclosures, the legal advisors' identities for 99 Speed Mart Retail Holdings cannot be confirmed based on the provided data.
As the dust settles from these historic IPOs, the Malaysian market continues to thrive, offering exciting opportunities for both local and international investors.
The law firms Christopher & Lee Ong and Latham & Watkins provided legal advice for Eco-Shop Marketing's initial public offering (IPO), with an emphasis on finance and investing, aiming to facilitate the transition of the company from a private to a public limited company. On the other hand, Adnan Sundra & Low and Baker & McKenzie.Wong & Leow represented the joint global coordinators and joint bookrunners in the Eco-Shop Marketing IPO, contributing to the successful execution of the business deal.
