On 6 March 2018, Wegmans Holdings Bhd (Wegmans) has made its maiden entry into the ACE Market of Bursa Malaysia. Its shares, which were offered at IPO price of RM 0.29 a share, have been well-received as these shares had been oversubscribed by a multiple of 16.35 times.
If you have missed the boat, don’t worry. As I write, Wegmans’ stock price is trading at RM 0.25 a share, a slight drop from the IPO price. Based on a total of 500 million shares, Wegmans today has a market capitalization of RM 125 million.
Here, I’ll share 7 main things that you need to know about Wegmans before you invest.
#1: History Part 1 – The Founding Years (1994 – 2004)
Wegmans was founded in 1994 by three partners namely, Keh Wee Kiet, Law Kok Kim (Collin) and Oon Leng Hin. It started its operations from a factory with a built-up …