Capital markets executive summary | Tue 13 Jun 2023 RSS and IDSS minimum market cap reduced to RM200m Bursa Malaysia announced that the minimum market capitalisation of approved securities for regulated short selling (RSS) and intra-day short selling (IDSS) has been lowered from RM500m previously. Securities that meet Bursa-prescribed criteria – or approved securities –…
Capital markets executive summary | Mon 12 Jun 2023 Zantat plans to list on ACE Market The initial public offering (IPO) involves 72.8m shares – 56m new shares and 16.8m existing shares – or 26% of the enlarged shares of 280m. The company will make 14m shares available for the Malaysian public, 11.2m pink form…
Capital markets executive summary | Fri 9 Jun 2023 Tokio Marine is selling Southeast Asia life insurance business The Tokyo-listed insurer was founded in 1879 as Japan’s first non-life insurance company, but now offers both life and non-life insurance. Its international business in 46 countries contributed 54% of profits. The company has appointed Goldman Sachs…
Capital markets executive summary | Thu 8 Jun 2023 Edelteq soars 204.17% on listing The ACE Market listed company opened at 75 sen or 51 sen (212.5%) above the initial public offering (IPO) price of 24 sen. The counter finally closed at 73 sen with 104.52m shares changing hands. It was the 3rd most active…
Capital markets executive summary | Wed 7 Jun 2023 Khazanah invests in PolicyStreet The insurance technology company was founded in 2017 and was granted the Financial Adviser and Islamic Financial Adviser licences by Bank Negara Malaysia in 2019. It offers digital and customised insurance solutions to consumers and businesses. It sees opportunities in improving Malaysia’s…
Capital markets executive summary | Tue 6 Jun 2023 Yinson buys Netherlands-based AFPS Yinson Bouvardia Holdings Pte Ltd plans to acquire the entire equity interest in AFPS BV from Atlanta Field BV via a call option for a maximum price of USD87.9m (RM405.6m). AFPS is the owner of floating, production, storage, and offloading (FPSO) Atlanta….
Capital markets executive summary | Fri 2 Jun 2023 Synergy House ended 18% below IPO price The cross-border e-commerce seller and exporter of ready-to-assemble home furniture appears to spark a trend of disappointing market debuts after Radium Development closed 23% lower. The stock was the 3rd most actively traded with 82.38m shares changing hands. It…
Capital markets executive summary | Thu 1 Jun 2023 Radium Development ended 23% lower on IPO The property developer bucked a recent trend of strong debuts by newly listed companies by closing at 38.5 sen from its initial public offering (IPO) price of 50 sen. Observers cite the soft investor interest in property stocks as…
Capital markets executive summary | Wed 31 May 2023 Farm Fresh 4Q net profit plunged 72.35% The figure fell from RM17.68m the prior year to RM4.89m in 4Q ended 31 Mar 2023. The poor results were blamed on higher raw material costs, weaker foreign exchange rate, higher distribution costs, larger salary expenses following the 25%…
Capital markets executive summary | Tue 30 May 2023 Cloudpoint ended up 35.5% on ACE Market debut The company’s share price jumped from its IPO price of 38 sen to 51.5 sen. It opened at a high of 75 sen with a volume of 17m shares. At the end of the day, 344.38m shares changed…