Starbox Only Malaysia-Based Firm Listed on NASDAQ With Foreign Private Issuer Status

Starbox Group became Malaysia’s first U.S. IPO Starbox is the only Malaysia-based company currently listed on Nasdaq with foreign private issuer status.

Starbox Only Malaysia-Based Firm Listed on NASDAQ With Foreign Private Issuer Status

2 September 2022 - Starbox Group Holdings Ltd, a Malaysia-based service provider of cash rebates, digital advertising, and payment solutions, has officially announced its listing on NASDAQ in a prestigious ceremony at Pavilion Hotel Kuala Lumpur.

Attended by notable names such as Lee Choon Wooi, CEO of Starbox Group Holdings Ltd, Hiren Krishnani, NASDAQ Singapore IPO Director, and Tina Xiao, President of Ascent Investor Relations LLC, the event also saw stakeholders, members of the media, and other VIPs gathered together to celebrate Starbox’s momentous milestone.

Lee Choon Wooi, CEO of Starbox Group Holdings Ltd, expressed his thanks to the Starbox team for their support and hard work that have led to them achieving IPO status in just three years since their formation.

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“Stepping foot into NASDAQ makes us feel proud that we were given the chance to make Malaysia proud and elevate our standing as Malaysians on a global stage. We hope that with our achievement, more local SMEs can step into the global  market and boost the growth of the Malaysian economy.”

Hiren Krishnani, NASDAQ Singapore IPO Director says, “We can’t wait to see the exciting future that lies ahead for the company. With such an attractive business model, they are no doubt poised for success, and today is a testament for all their hard work. NASDAQ is here to partner with companies during every stage of the lifecycle, and we are honoured to be present with you today.”

Starbox Footsteps

Neil Foo, former CEO of Secretariat of SAME (Secretariat for the Advancement of Malaysian Entrepreneurs), Prime Minister’s Department, foresees great growth ahead for Starbox.

“With Malaysia having 1.1 million SMEs that contribute to 38% of the national GDP, SMEs are the backbone of our country’s economy. Starbox saw exponential growth during the pandemic due to an increased volume of online purchases, and has perfected the online and offline (O&O) business model. Starbox is the new bankable financial model for all aspiring SMEs, and they have indeed presented themselves as the catalyst for other local SMEs to follow in their footsteps.”

The company began trading its stock in New York under the ticker symbol “STBX” on the Nasdaq Capital Market. Starbox Group became Malaysia’s first U.S. IPO Starbox is the only Malaysia-based company currently listed on Nasdaq with foreign private issuer status.