Most newly-listed firms doing well

During a briefing on Wednesday, Bursa Malaysia CEO Datuk Tajuddin Atan said that under the current market uncertainties, the number of companies going for listing this year was expected to be lower at 12-13, compared with 15 IPOs last year.

PETALING JAYA: Despite the volatile stock market, four out of the five local newly-listed companies are trading above their initial public offering (IPO) prices, setting the right tone for other listings to come to the market this year.

The one debutant that is trading slightly below its offer price is Malakoff Corp Bhd, the largest listing of the year, which raised a whopping RM2.74bil. Its shares were sold at an IPO price of RM1.80 and saw an over-subscription. It closed yesterday at RM1.77.