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MR D.I.Y. Advances in Malaysia’s Biggest IPO in Three Years

A trading gallery of the RHB Investment Bank Bhd. headquarters in Kuala Lumpur.
Photographer: Sanjit Das/Bloomberg
Updated on

Mr. D.I.Y. Group Bhd. rose on the first day of trading after Malaysia’s biggest home-improvement retailer was oversubscribed about four times this month.

The shares climbed as much as 12.5% from the offer price of 1.60 ringgit to as high as 1.80 ringgit on Monday. They earlier dropped to as low as 1.50 ringgit. The company raised 1.5 billion ringgit ($362 million) in an initial public offering that was the nation’s biggest since Lotte Chemical Titan Holding Bhd.’s $849 million sale in 2017.