Astro All Asia Networks plc made a stunning debut on the KLSE yesterday, surging RM1.35 or 36% above its retail initial public offering (IPO) price of RM3.65 minutes after it was quoted.
The stock certainly lived up to expectation as it was a top gainer and volume leader on the KLSE throughout the day. It closed the day at RM4.76, up RM1.11 for a 30% premium. A total of 96 million shares were traded, possibly a record for a new listing this year.
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