KUALA LUMPUR: Integrated marine bunkering services provider TMD Energy Ltd began trading on the NYSE American under the ticker symbol “TMDE”, becoming the first Malaysian marine bunker supplier to list on a major US exchange.
TMD Energy, which is based in Malaysia and Singapore, is a part of Straits Energy Resources Bhd
– a Fortune South-East Asia 500 company listed on Bursa Malaysia’s ACE Market.
In a filing with Bursa Malaysia, the company said its share price opened at US$3.26 on its debut on Monday.
It rose to an all-time high of US$4.12 before closing at US$3.63, or 11.69% higher than its initial public offering price of US$3.25 per share.
“This gave the company a market capitalisation of US$83.85mil on its first day as a publicly listed company,” the filing said. Total gross proceeds were at US$10.08mil. — Bernama
