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Volcano ‘erupts’ on ACE Market 06 Apr 2021 / 19:45 H. KUALA LUMPUR: Volcano Bhd, an international manufacturer of nameplates and plastic injection moulded parts, closed at 48.5 sen on its maiden trading day on Bursa Malaysia’s ACE Market yesterday, a 36.8% or 13.5 sen premium over its offer price of 35 sen with 104.46 million shares changing hands. Earlier in the trading session, the counter hit a high of 70.5 sen, slightly more than double of its offer price. Executive director and chief financial officer Khoo Boo Wui said proceeds from the listing will be used to accelerate the company’s factory expansion to accommodate new machinery. “We plan to have additional laser-cutting machine and plastic injection moulding machines. We will expand our factory size to accommodate the new machinery, the existing spaces come in optimum level,” he said at a virtual press conference after the listing ceremony yesterday. ....
From left: Volcano executive director and CFO Khoo Boo Wui, executive director Gan Yew Thiam, managing director, Datuk Ch ng Huat Seng, executive director Yeap Guan Seng and executive director Datuk Wong Tze Peng KUALA LUMPUR: ACE Market debutant Volcano Bhd opened at 70 sen a share on Bursa Malaysia, double its offer price of 35 sen, on heavy trading volume. The counter rose to as high as 70.5 sen a share before easing to 49.5 sen at 10.30am, which was 14.5 sen or 41.43% over its reference price. There was strong support for the share with some 83.62 million shares exchanging hands within the first 90 minutes of trade. ....
Volcano IPO Debut Sees Jump of 100% to 70 sen on ACE Market KUALA LUMPUR, Apr 6, 2021 - (ACN Newswire) - Volcano Berhad ( VOLCANO , Stock Code: 0232), a leading international manufacturer of nameplates and plastic injection moulded parts, successfully listed on the ACE Market of Bursa Malaysia Securities Berhad ( Bursa Securities ) today. From left: Volcano Berhad s Executive Director/Chief Financial Officer Khoo Boo Wui, Executive Director Gan Yew Thiam, Managing Director Datuk Ch ng Huat Seng, Executive Director Yeap Guan Seng and Executive Director Dato Wong Tze Peng Chairman of Volcano, Ms. Wong Wan Chin, said: Aside from making the Group more visible, this IPO will also help with the expansion of Volcano. In today s highly competitive business environment, this expansion will accelerate our move towards automation and streamline our manufacturing process to ensure sustainable growth. We seek to capitalise on our current regional presence, particularly in Thailan ....
KUALA LUMPUR (April 6): Shares in nameplates and plastic injection moulded parts manufacturer Volcano Bhd jumped as much as 101% during early trade to hit an intraday high of 70.5 sen, marking a strong debut on Bursa Malaysia’s ACE Market. The stock, which jumped right to 70 sen after the opening bell – double that of its Initial Public Offering (IPO) price of 35 sen – subsequently pared some gains to close the day at 48.5 sen, still 13.5 sen or 38.57% above its issue price. In a statement earlier, Volcano highlighted that its IPO was oversubscribed by 176.6 times. It intends to raise RM8.75 million, of which RM5.55 million will be used for the purchase of machinery and equipment, while RM3.2 million will be used for listing expenses. ....
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