KUALA LUMPUR, May 22 -- Eco-Shop Marketing Bhd, a discount chain with over 350 stores across Malaysia, is set to go public in Kuala Lumpur on Friday in the country's largest IPO of the year.

The listing will value the company at about RM6.38 billion, giving founder and managing director Datuk Seri Lee Kar Whatt a RM4.9 billion stake, according to the Bloomberg Billionaires Index.

The company's rapid growth - with revenue rising over 50 per cent in two years - underscores strong demand for low-cost goods amid rising inflation, Bloomberg reported.

"Fixed-price retailers became a first choice," said Ng Zhu Hann, founder and chief executive officer of Tradeview Capital, in an interview. He was referring to Eco-Shop's fixed RM2.60 price for...