KUALA LUMPUR: Smart Asia Chemical Bhd rose 25% at the start of trading on the ACE Market of Bursa Malaysia following an initial public offering (IPO) that was 33.8 times oversubscribed.
Shares in the industrial paint and coating manufacturer opened 10 sen over its IPO price to 50 sen a share, but eased to 48 sen a share at 9.10am after 27.94 million shares were traded.
