Grocery chain 99 Speed Mart Retail, Malaysia’s largest IPO in seven years, opened 12% higher on its debut, with a $531mn listing on the Kuala Lumpur stock exchange. The company attracted 14 cornerstone investors, including UOB Asset Management and Malaysia’s Employees Provident Fund Board. At the listing price of RM1.65 per share, owner Lee Thiam Wah’s net worth is set to reach $3.3bn, according to the Bloomberg Billionaires Index.
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Piper Sandler highlights the stocks most likely to benefit from bullish market sentiment
Wall Street's optimism following Donald Trump's reelection has benefited stocks that typically thrive in bullish sentiment, driven by expectations of looser regulations and lower corporate taxes. Piper Sandler's analysis shows that bullish sentiment is at an extreme, with investors anticipating market growth and improved economic data. Stocks like Uber and Garmin, which historically perform well in high sentiment environments, have seen notable gains in 2024, with Uber potentially benefiting from looser regulations under the new...
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