Coraza Integrated Technology Bhd made a stellar debut on Bursa Malaysia's ACE Market on Thursday (Jan 20), rising to as high as 70.5 sen for a premium of 42.5 sen or 152% over the initial public offering price of 28 sen.
AFTER a slowdown in 2020 because of the Covid-19 pandemic, the initial public offering (IPO) market in Malaysia recovered to pre-pandemic levels, registering 30 new listings this year from 19 last year. Bursa Malaysia statistics show that the number of IPOs was 58% more than in 2020, with total funds raised through fresh issuance of shares and offer-for-sale of equity shares by existing shareholders increasing by 30% to RM2.59 billion from RM2 billion last year.
KUALA LUMPUR: Integrated engineering supporting services provider Coraza Integrated Technology Bhd’s initial public offering (IPO) for the public portion has been oversubscribed by 132.5 times.
Integrated engineering supporting services provider Coraza Integrated Technology Bhd said the Malaysian public portion of its initial public offering (IPO) was oversubscribed by 132.5 times.