KUALA LUMPUR: EcoSys (Malaysia) Bhd made a strong debut on the ACE Market of Bursa Malaysia yesterday, opening at 70 sen, up 159% or 43 sen, above its initial public offering (IPO) price of 27 sen per share.
A total of 33.22 million shares were traded at the opening bell.
EcoSys surged 196.3%, or 53 sen, to close at 80 sen, making it Bursa Malaysia’s second most actively traded counter with 183.56 million shares changing hands.
Managing director Chan Chee Wei said the listing would give the company a wider platform to accelerate its growth plans, while placing greater responsibility on management to strengthen corporate governance and deliver value to shareholders.
“Personally, I believe it is not really about the pricing, but rather the value that shareholders and investors see in Ecosys as a whole,” he said during a virtual press conference held in conjunction with the company’s ACE Market listing.
The Penang-based company provides precision engineering components, sub- assembly modules and abatement systems for the semiconductor industry, with services spanning research and development, customisation, assembly, installation and maintenance.
Chan said EcoSys will continue to focus on developing innovative technology and engineering solutions, particularly in gas treatment.
He also said the company is preparing to expand its ultra-high-purity (UHP) segment and gas-abatement operations to cater to anticipated market demand.
For the UHP segment, the company plans to nearly double the size of its cleanroom, with the project expected to be completed by the end of this year, Chan said.
“With that, we will position ourselves well to keep in line with the growth of our existing customers as well as new customers, whom we are currently in the process of bringing on board,” he said. — Bernama
