ListedMain Market· 5316· Shariah-compliant

MST Golf Group IPO

Consumer Products & Services, Retailers. Offered at RM0.81 a share, listed on 20 Jul 2023.

Offer price

RM0.81

Shares offered

228.0m

RM185m at offer

Market cap at listing

RM665m

Offer period

28 Jun 2023 to 7 Jul 2023

Listing date

20 Jul 2023

Principal adviser

RHB Investment Bank Berhad

Timeline

Offer opens
28 Jun 2023
Offer closes
7 Jul 2023
Balloting
Done
Listed
20 Jul 2023

Oversubscription

1.5×

Public applications for 1.5 times the shares on offer, 2,603 applications.

First day of trading

-13.0%

Opened below the offer price, closed -3.7% on day one.

About MST Golf Group

MST Golf Group is Malaysia's largest golf specialty retailer and wholesaler, operating 44 retail outlets (36 in Malaysia, 8 in Singapore) selling approximately 12,000 SKUs across ~97 brands of golf clubs, balls, accessories, and apparel.

First-day forecast

CISCOM's forecast for MST Golf Group is available to Pro members.

Every IPO gets a projected first-day range and a probability of opening above the offer price, built from the most similar past listings on Bursa Malaysia. Across 246 IPOs in the walk-forward back-test, the model called the first-day direction right 74% of the time. Educational estimates, not investment advice.

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Facts on this page come from Bursa Malaysia announcements, the prospectus and issuing-house press releases, and can change. CISCOM is an educational service and does not provide investment advice. Past performance does not guarantee future results. Consult a licensed adviser before investing.