KUALA LUMPUR: Automated manufacturing solution provider ECA Integrated Bhd, which made its debut on the ACE Market today, began trading at 65 sen a share, nearly four times the initial public offering (IPO) price of 17 sen a share.
At its intra-morning high, the stock had made further inroads to 75.5 sen a share representing a 344% gain for IPO subscribers.
As at 10am, the stock had seen 78.24 million shares exchanging hands, making it the second most actively traded counter on Bursa Malaysia so far.
According to the group, it is working on expanding its business operations, partly accelerated by its upcoming IPO. Out of the RM25.5mil IPO proceeds, RM7.7mil has been earmarked for the purchase of new machines and RM14mil for working capital.
The group, via a wholly-owned subsidiary, is principally engaged in the provision of integrated production systems and standalone automated equipment.
Its clientele consists of global multinational manufacturers from various industries such as semiconductor products; electric vehicle and automotive components; solar system components, 5G telecommunication equipment components; and digital display tags, to name a few.
