Barakah and Karex buck trend

KUALA LUMPUR: Barakah Offshore Petroleum Bhd and Karex Bhd, two debutants on the Main Market of Bursa Malaysia, bucked the trend and beat analysts’ expectations.

Barakah made a sterling debut, opening at 98 sen for a 51% premium over its initial public offering (IPO) price of 65 sen while its redeemable convertible unsecured loan stocks opened at 80.5 sen or four times the issue price of 20 sen.