2D animator Kucingko's shares jump 168% in ACE Market debut

From left: Kucingko independent non-executive chairman Lim Chor Gee, independent non-executive director Elaine Law Soh Ying, Kenanga Investment Bank Bhd head of group investment banking and Islamic banking Datuk Roslan Hj Tik, Kucingko executive director Ooi Kok Hong, executive director See Chin Joo, independent non-executive director Puar Chin Jong, non-independent non-executive director Ku Chia Loon, independent non-executive director Quah Bee Fong

KUALA LUMPUR: Shares in 2D animation studio Kucingko surged about 168% on its debut on the ACE Market of Bursa Malaysia after raising RM30mil in proceeds from its initial public offering (IPO).

Investors bought up the share to 80.5 sen at the opening bell, a 50.5 sen premium over its IPO price of 30 sen a share.