KUALA LUMPUR: Winstar Capital Bhd debuted today on the ACE Market of Bursa Malaysia at 49 sen, a 40% premium over its issue price of 35 sen.
The aluminium products manufacturer jumped 55.71%, or 19.5 sen to 54.5 sen at 9.18 am.
Winstar secured RM19.79mil from its initial public offering (IPO). The company stated that RM9.55mil (48.25%) of the proceeds will be allocated for the purchase of new aluminium extrusion press machines and equipment, RM6.24mil (31.54%) for working capital needs, and RM4mil (20.21%) for listing expenses.
The company reported a net profit of RM3.3mil on revenue of RM58.7mil for the third quarter ended Sept 30, 2024.
For the first nine months of FY24, Winstar achieved a net profit of RM6.99mil with revenue totalling RM147.93mil.
TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO.
