Eco-Shop slips on second trading day after upbeat debut
The counter opened at RM1.19, its intraday high so far and already below last Friday's closing price of RM1.20, before retreating to RM1.15, the morning's low at press time.
This came after the discount retailer defied market expectations with a solid debut at the end of last week. The initial public offering (IPO) was priced at RM1.13 per share.
With 19.61 million shares changing hands, Eco-Shop was the third most actively traded stock on Bursa Malaysia this morning.
At RM1.15 per share, the company's market capitalisation stood at RM6.61 billion.
Whether the stock can regain ground remains to be seen, but its weaker showing likely reflects broader market jitters and fragile sentiment amid global uncertainties.
Eco-Shop's listing came amid a stretch of subdued IPO debuts, with most counters closing below their offer price on the first day of trade.
Its first-day performance bucked a recent trend in which many new Main Market listings struggled to hold above their IPO prices.
Between March and May, most Main Market IPOs recorded either negative or modest first-day gains, except for Reach Ten Holdings Bhd and Hi Mobility Bhd, amid cautious investor sentiment.
Eco-Shop's IPO, Malaysia's largest in eight months, raised RM974 million in total.
The company plans to channel the proceeds into expanding its retail and distribution footprint, repaying borrowings and upgrading its information technology infrastructure.
Founded in 2003, Eco-Shop operates 349 outlets across Malaysia as of March 2025, offering everyday items such as snacks, kitchenware and household essentials.
The brand is known for its fixed pricing model, RM2.60 in West Malaysia and RM2.80 in East Malaysia, which has resonated with price-sensitive consumers.
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