Cloudpoint's share price nearly doubles on ACE Market debut

Executive director and CEO Choong Wai Hoong (sixth from left) with members of the board and representatives from M&A Securities at Cloudpoint's listing ceremony

KUALA LUMPUR: Cloudpoint Technology Bhd opened at 75 sen a share on its trading debut on the ACE Market of Bursa Malaysia, representing a 97.37% premium to its initial public offering (IPO) price of 38 sen a share.

As at 10am, the trading stock of the IT solutions provider had retraced to 53 sen a share, which was 15 sen or 39.47% higher than the IPO price.