KUALA LUMPUR: Peterlabs Holdings Bhd opened with 0.5 sen premium but closed at 24 sen, six sen lower than its listing price of 30 sen yesterday. The ACE Market-listed company was the second most active stock of the day but it now joins other recent listings, Catcha Media Bhd and Hibiscus Petroleum Bhd, which had also seen their share prices drop below their issue prices.
PeterLabs executive director Dr Teo Kooi Cheng said the company had begun exporting its products now that it had appointed official distributors in Indonesia, Bangladesh, Sri Lanka, the Philippines and Saudi Arabia.