Mercury Securities debuts at 27/share on ACE Market

KUALA LUMPUR: Mercury Securities Group Bhd made its debut on the ACE Market of Bursa Malaysia at 27 sen a share, representing a premium of 8% over the initial public offering (IPO) price of 25 sen a share.

Upon its listing, the company had a market capitalisation of RM223.25mil based on the issue price of 25 sen a share, and its enlarged issued share capital of 893 million shares.

The provider of stockbroking and financial services raised a total of RM39.27mil from the IPO, of which RM26.86mil is allocated for margin financing facility services.

RM2.88mil is allocated for the enhancement of digitalisation programme and marketing activities for the stockbroking business and operations of the Group.

RM4.63mil of the proceeds will be used for working capital purposes while the remaining RM4.90mil is allocated for estimated listing expenses.

“I would like to thank the SC and Bursa Securities for their continued stewardship of our capital market. I would also like to thank the entire Mercury Securities team and due diligence working group for their hard work to make today possible," said Mercury Securities managing director Chew Sing Guan in a statement.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Banking industry's asset quality remains robust - RAM Ratings
CPE Technology makes debut on Main Market at 90 sen
Ringgit opens easier as US dollar index strengthens
Gamuda shares boosted by RM1.77bil contract win
Bursa Malaysia opens lower, awaiting fresh catalyst
Trading ideas: Gamuda, BPlant, LB Aluminium, Comintel, IOI Properties, MPI, Hiap Teck, Heitech, MyEG
HeiTech Padu bags RM37mil contract from MoH
Tourist arrivals to pick up significantly next year
MSM calls for speedy decision on sugar prices
UMW in maintenance deal with IOI

Others Also Read