KUALA LUMPUR: Supreme Consolidated Resources Bhd
, which transferred its listing from the LEAP Market to the ACE Market today, surged 48% on its trading debut.
The frozen food processor and distributor opened at 37 sen, above its initial public offering (IPO) price of 25 sen. It is currently trading 36% higher, up by nine sen to 34 sen, with 79.7 million shares exchanged at 9:57 am.
The Sarawak-based fast-moving consumer goods company provides market access and coverage for consumer products in Sarawak and Sabah, focusing on distributing both third-party brands and its own frozen and chilled food products, ambient food and beverages (F&B), and non-F&B products.
Supreme Consolidated raised RM17.5mil from its IPO, with RM11mil allocated for warehouse facility expansion, RM4mil for working capital, and the remaining proceeds set aside for listing-related expenses.
