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.

The stock of the IT solutions provider closed 13.5 sen or 35.5% higher to 51.5 sen a share.