KUALA LUMPUR: Panda Eco System Bhd made it debut on the ACE Market of Bursa Malaysia at 29 sen a share, a 13 sen or 81.25% premium to the initial public offering (IPO) price of 16 sen a share.
Shares in the home-grown retail management solutions provider recorded an opening volume of 24.85 million shares, which put it at the top of the active trading table.
At the close yesterday, the share price settled at 26 sen, giving it a market capitalisation of RM174.5mil. During the listing ceremony, executive director and chief executive officer Lo Chee Wee said retailers must embrace technology and implement robust solutions to enhance their operations to remain relevant.
“Our solutions aim to facilitate efficient expansion and scalability, supporting retailers in overcoming the complexities inherent in the industry and meeting the dynamic expectations of both consumers and suppliers,” he said.
He added that the IPO proceeds of RM17.5mil would enable the company to invest in research and development of new solutions, expand its market presence, and continue advancing, thereby solidifying its position as a home-grown Malaysian software company.
Panda’s IPO generated significant interest, with the balloting portion for the Malaysian public oversubscribed by 153.5 times.
The group is primarily involved in the development, customisation, implementation, and integration of retail management eco-system for its customers.
Its in-house developed retail management eco-system assists retailers in meeting the distinctive operational needs of retail chain stores and caters to small to large retail chains.
Its solutions are currently adopted by over 1,400 retail stores across Malaysia, Batam and Brunei, according to the group.