Hock Soon Capital falls 7c below IPO on debut

From left: Gary Ting, Head of Corporate Finance, M & A Securities; Pook Kim Nyean, Independent Director, Hock Soon; Chang Lih Yik, Independent Director; Tan Phaik Yen, Independent Director; Datuk Seri Nurmala Abd Rahim, Chairperson; Ong Boon Leng, Managing Director; Lim Suk Gen, Executive Director; Eric Ong Keat Qian, Executive Director; Alex Ong Keat Hoe, Executive Director; and Datuk Bill Tan, Managing Director of M & A Equity Holdings

KUALA LUMPUR: Hock Soon Capital Bhd made a subdued debut on Bursa Malaysia’s Main Market, opening at 53 sen, 7 sen below its initial public offering (IPO) price of 60 sen, amid weaker-than-expected investor demand.

Ahead of the listing, the Perak-based poultry producer’s IPO shares were oversubscribed by just 0.36 times.