Mini-Mart King Hits Billionaire Status in Malaysia's Hot IPO Market [Yahoo! Finance]
UNITED OVRSEAS BK S/ADR (UOVEY)
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Source: Yahoo! Finance
Several decades later, the entrepreneur has transformed that humble beginning into a sprawling retail empire of more than 2,600 convenience stores across the nation. Most Read from Bloomberg World's Second Tallest Tower Spurs Debate About Who Needs It How Americans Voted Their Way Into a Housing Crisis The Plan for the World's Most Ambitious Skyscraper Renovation UC Berkeley Gives Transfer Students a Purpose-Built Home on Campus Rome May Start Charging Entry to the Trevi Fountain Today, the 60-year-old will be minted as a billionaire after his company 99 Speed Mart Retail Holdings Bhd goes public in Kuala Lumpur. The $531 million initial public offering is Malaysia's largest in seven years. At the IPO price of 1.65 ringgit ($0.38) per share, Lee's fortune is about $3.3 billion, according to the Bloomberg Billionaires Index. The listing cements Kuala Lumpur as the busiest location for market debuts in Southeast Asia this year and shows investor optimism in the nation'
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