UWC best-performing new listing year to date

PETALING JAYA: UWC Bhd, which made a strong debut on the Main Market of Bursa yesterday, is the top performer so far among the new listings this year and third best performer over the past 12 months, in terms of first-day trading.

The integrated engineering service provider opened at RM1.10, representing a 34% premium to its initial public offering (IPO) price of 82 sen. The stock closed its first trading day at an intraday high of RM1.40, representing a whopping 70% premium to its IPO price, with 200.71 million shares traded.

It was the most actively traded stock and the top gainer on the bourse yesterday.

Bursa Malaysia has seen a total of 27 new listings, including UWC, since July last year. The top three performers during the 12-month period were Radiant Globaltech Bhd, Securemetric Bhd and UWC.



Radiant Globaltech, which was listed on the ACE Market on July 24 last year, achieved a premium of 130.43% on its first trading day with a closing price of 53 sen against its 23 sen IPO price.

Also on the ACE Market is Securemetric, which was listed on Nov 13 last year, achieved a 114% premium on its first trading day with a closing price of 53.5 sen against its 25 sen IPO price.

Another noteworthy performer was Revenue Group Bhd, which was listed on the ACE Market on July 18 last year. It closed its first trading day at 62.5 sen, a 68.92% premium to its 37 sen IPO price.

Leong Hup International Bhd, which was the largest IPO in the recent years, however failed to excite the market as the stock closed its first trading day at an unchanged price of RM1.10. It fell 0.53% to close at 94 sen yesterday with 3.40 million shares traded.

Within the next two months, there will be three new listings – i-Stone Group Bhd, Baba Eco Group Bhd and Tashin Holdings Bhd.

Source: The Sun Daily





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