Panda Eyes signs underwriting deal for planned January 2027 listing
The fashion retailer plans 15 new outlets nationwide and will use part of its IPO proceeds to refurbish existing stores.
Panda Eyes Group Bhd has appointed M&A Securities Sdn Bhd to underwrite part of its planned ACE Market IPO, with the listing scheduled for January 2027. The offering will make up to a 30% stake available to investors.
According to a statement, the underwriting agreement covers new shares allocated to public investors and eligible persons through the pink form allocation. Existing shares will also be offered for sale.
Managing director Wang LiangLong said the IPO would support the retailer’s expansion. Its draft prospectus filed in April sets out plans for 15 additional outlets nationwide, while some proceeds are earmarked for refurbishing current stores.
Panda Eyes had 33 stores across Peninsular Malaysia as at March. Wang said internal funds were being used to add two studios to its existing five and recruit more live-streaming talent for its 18-hour daily live-streaming activities.
Founded by Wang and his wife, executive director Wong Yin Yee, the company sells own-brand apparel, bags and accessories through stores, TikTok Shop and Shopee. It also carries third-party beauty, personal care, toy, collectable and household merchandise.
For the 12 months ended June 30, 2025, Panda Eyes recorded RM22.8 million in net profit and RM194.9 million in revenue. Its FY2025 gross margin was 44%. M&A Securities also serves as principal adviser, sponsor and placement agent for the IPO.
