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99 Speed ​​Mart, Malaysia's largest mini-mart chain by revenue, is expected to go public in September, said its founder and owner Lee Liang Hua.（Lee Thiam Wah）By then, he will be expected to join the billionaire club.

99 Speed ​​Mart Retail Holdings plans to raise 2.36 billion ringgit (US$532 million) when it lists on Bursa Malaysia on September 9. If successful, it would be Malaysia's largest IPO in seven years and could make its founder and CEO, Lee Liang Hua, a billionaire with a net worth of US$2.8 billion.

The company plans to issue up to 17% of its shares at RM1.65 per share, with Lee Liang Hua selling part of his holdings. Assuming the over-allotment option is fully exercised, Lee Liang Hua and his wife Huang Li Ting (who holds a board seat at 99 Speed ​​Mart) will hold 80% of the company's shares after the IPO.

According to the prospectus, most of the funds raised from the listing will be used to expand the company's retail network, build new distribution centers and increase its delivery fleet. The company plans to open 250 stores each year in the next three years, with the goal of having 3,000 stores by the end of 2025. To expand its market influence, the company will focus on the northern and eastern regions of Malaysia.