Panda Eyes targets January 2027 ACE Market listing
KUALA LUMPUR: Fashion retailer Panda Eyes Group Bhd has signed an underwriting agreement with M & A Securities Sdn Bhd ahead of its proposed listing on the Ace Market of Bursa Malaysia, targeted for January 2027.
Fashion retailer Panda Eyes Group Bhd has announced plans to list on the Ace Market of Bursa Malaysia, with a target date of January 2027. The company has signed an underwriting agreement with M & A Securities Sdn Bhd for its Initial Public Offering (IPO). The IPO will consist of 325 million new shares, comprising 20% of the company's enlarged share capital, and an offer for sale of 162.5 million existing shares, accounting for 10% of its shares.
In total, 325 million new shares will be offered: 81.25 million to the Malaysian public through a ballot, 40.625 million for eligible individuals, and the remaining 203.125 million to Bumiputera investors selected by the Investment, Trade and Industry Ministry. Established in 2016, Panda Eyes offers apparel, bags, personal accessories, beauty and personal care products, toys, and home goods under its own brand and from third-party sources.
As of March 2, 2026, the company operated 33 retail outlets in Peninsular Malaysia and generated revenue through TikTok Shop and Shopee. Online platforms had 2.6 million followers, and online sales accounted for 58.5% of the company's RM194.9 million revenue in the fiscal year ending June 30, 2025 (FY25).
The IPO proceeds are intended to fund the opening of up to 15 new outlets, refurbishment of existing stores, and additional working capital. Panda Eyes also plans to expand its livestreaming operations by adding two studios to its five existing ones and hiring more livestreaming presenters, using internal funds. M & A Securities will serve as the principal adviser, sponsor, underwriter, and placement agent for the IPO.
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