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KUALA LUMPUR: Renewable energy (RE) solutions provider Samaiden Group Bhd made a hot debut in the ACE market on Thursday at RM1.52 sen above its 48 sen bid price.
At 9:02 a.m. M., was trading at 1.09 yuan, an increase of 61 sen.
22.34 million shares were traded at prices ranging from 90 sen to RM1.12.
The FBM KLCI fell 2.23 points or 0.15% to 1,521.02. 231.55 million shares valued at RM151.29 thousand were traded. There were 212 winners, 101 losers, and 283 unchanged counters.
Samaiden raised RM29.35 thousand from its initial public offering (IPO) which involved a public issue of 61.155 million new shares.
Samaiden Managing Director Chow Pui Hee said the successful listing “will drive us to continue to work diligently and pursue our growth, elevating Samaiden to the next level of possibilities that we can achieve for our business.”
He said the company was optimistic about the renewable energy sector and that it will continue to focus on the renewable energy sector and complement the growth of the sector over the next few years.
According to its listing exercise, its offering of 10.5 million new shares at 48 sen each to the public was oversubscribed 56.5 times.
15,857 applications for 603.95 million new shares were received from the public for the 10.50 million new shares offered by Samaiden.
Based on its increased issued share capital from 210 million shares to 48 sen each, the company’s market capitalization would be RM100.8 thousand.
Its subsidiaries are involved in the engineering, acquisition, construction and commissioning of solar photovoltaic systems and power plants. They also provide environmental and renewable energy consulting services, as well as operation and maintenance services.
Alliance Investment Bank Bhd is the lead advisor, sponsor, sole underwriter and placement agent for this listing exercise.
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