Agricore CS jumps 58% in ACE Market debut

From left: Agricore independent director Koay Hooi Lynn, chairman Fu Yew Sun, managing director Oon Boon Khong, deputy chairman Datuk Keh Chuan Seng, M&A Equity Holdings Bhd Datuk Bill Tan, independent director Teh Boon Beng and independent director Lee Seow Ling

KUALA LUMPUR: Agricore CS Holdings Bhd surged 58% as it commenced trading on the ACE Market of Bursa Malaysia after an initial public offering (IPO) exercise that raised RM25.9mil.

The food ingredients supplier racked up a 29 sen gain over the IPO price at the opening bell to 79 sen a share and maintained a steady climb.