A STBX IPO is launched. In fact, the StarBox Group Holdings Ltd. to be listed on Nasdaq on August 24, 2022. Let’s take a closer look at this IPO and the stock’s market potential.
STBX IPO information
StarBox Group is a cash rebate and payment company based in Kuala Lumpur, Malaysia. According to the company’s website, it is “building a cash rebate, digital advertising and payment solutions business ecosystem aimed at micro, small and medium-sized businesses that lack the bandwidth to develop an internal data management system for effective marketing.”
In the last 12 months, StarBox generated revenue of $3.2 million and net income of $1.5 million. Additionally, the company has a market cap of $202.5 million.
This leads us to the STBX IPO. StarBox plans to raise $23 million by its public debut on August 24, 2022. The company will issue five million shares at a price range of $4.00 to $5.00 per share. In addition, the stock will be listed under the proposed ticker “STBX”. Network 1 Financial Securities is acting as underwriter for this IPO.
According to the Free Writing Prospectus (FWP), 60% of the proceeds from the IPO will be used for various improvements. This includes expanding business to other countries in Southeast Asia, establishing representative offices and local partners. 20% of the process goes into system and software upgrades. And finally, the last 20% will help to promote the brand in Malaysia.
Learn more about the StarBox Group
StarBox Group’s cash rebate system and GETBATS website are key to their ecosystem. GETBATS is the “No. 1 online shopping platform for instant discounts in Malaysia.”
Specifically, a cash rebate is money that is refunded to a customer who purchases products from a retailer within a specified period of time. And merchants are given discounts so they can clear their inventory without having to lower prices significantly. And online shopping is dominating markets around the world. Because of this, STBX’s IPO has become an intriguing opportunity for investors.
As of 2021, GETBATS website and mobile application had more than 500,000 members and 700 traders. Those numbers continue to grow, and STBX stock is likely to benefit going forward.
Investing in IPOs
IPOs can be a great investment vehicle if you do the right research. However, the IPO process can be difficult to trace. Use this step-by-step IPO guide to gain more insight into the SEC filing process and IPOs.
Also, consider signing up for one of the best investment newsletters you can find. These daily e-letters provide invaluable stock insights, trending data and much more. In fact, these market experts do the research for you!
The StarBox IPO is the only debut on the calendar next week. Therefore, you can expect a lot of attention around STBX’s IPO. You might want to keep a close eye on the news cycle for this company leading up to its debut and its shares just after the debut.
Corey Mann is Investment U’s Content Manager. He has over 10 years of experience as a journalist and content creator. Since 2012, Corey’s work has been featured in major publications such as The Virginian-Pilot, The Washington Post, CNN, MSNBC, and others. When Corey is not focusing on Investment U, he enjoys traveling with his wife, attending Yankees games and spending time with his family.
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