KUALA LUMPUR (March 16): Melaka-based property developer Teladan Setia Group Bhd made a commendable debut on the ACE Market of Bursa Malaysia with a 12 sen or 25% premium over its initial public offering (IPO) price of 48 sen.
The counter, which opened at 60 sen, pared some of the gains to close at 57 sen for a first-day gain of nine sen or 18.75%, with a market capitalisation of RM459.02 million.
Teladan Setia, however, could not match the opening-day performance of two other recent ACE Market listings.
HPP Holdings Bhd, which began trading on Jan 20 as the year’s first listing, closed that day at 71 sen for a 97.22% premium over its IPO price of 36 sen.