Pappajack debuts 30% above IPO price at 39c

(L to R) Cheong Woon Yaw, Pappajack independent non-executive director; Sylvia Koo Woon Kan, independent non-executive director; Law Book Ching, executive director; Lim Boon Hua, managing director and CEO; Chong Chee Fire, independent non-executive chairman; Datuk Magaret Ting Thien Hung, independent non-executive director, at the company's listing ceremony

KUALA LUMPUR: Licensed pawnbroker Pappajack Bhd opened for trade today at 39 sen a share, a nine sen or 30% premium over its issue price of 30 sen a share.

Announcing its debut on the ACE Market of Bursa Malaysia, Pappajack managing director and CEO Lim Boon Jua said the company was entering a new phase of growth as the listing affirms its leading position in the pawnbroking industry.