KUALA LUMPUR: Carlo Rino Group Bhd
’s shares opened 13%, or 3.5 sen, lower at 23.5 sen from its initial public offering price (IPO) of 27 sen on its debut on the ACE Market of Bursa Malaysia.
It fell 16.67%, or 4.5 sen, to 22.5 sen at 9:52 am. It is the most actively traded counter on Bursa Malaysia, with 59.14 million shares traded.
Carlo Rino is involved in designing, marketing, and selling women’s handbags, footwear, and accessories, with products distributed through three channels – Carlo Rino boutiques, department store counters, and e-commerce platforms.
It posted a net profit of RM2.34mil and revenue of RM19.83mil in the first quarter ended Sept 30, 2024 (1QFY25), driven mainly by its boutique distribution channel.
TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter and placement agent for the IPO.
