MN Holdings debuts 23% higher at 26c/share on ACE Market

L to R: Danny Wong, Deputy Head of Corporate Finance, M&A Securities Sdn Bhd; Dang Siong Diang, Executive Director, MN Holdings Bhd; Datuk Clement Toh, Executive Director, MN Holdings;Loy Siong Hay, Managing Director, MN Holdings; Datuk Zainurin Haji Karman, Chairman of MN Holdings; and Datuk Bill Tan, Managing Director of Corporate Finance, M&A Securities

KUALA LUMPUR: MN Holdings Bhd opened for trading at 26 sen per share, five sen or 23.81% higher than its initial public offering (IPO) price on its debut on the ACE Market of Bursa Malaysia.

Fuelling its business expansion plans, the underground utilities and substation engineering specialist raised RM17.2mil from its public issue of 81.8 million shares at an issue price of 21 sen per share.