Malaysia: KTC makes strong listing debut on ACE market

Newly listed consumer packaged goods distributor Kim Teck Cheong Consolidated Bhd (KTC) makes a strong debut on the ACE Market of Bursa Malaysia Securities Bhd on Wednesday, opening its first trading day at MYR0.30, 100 per cent up from its issue price of MYR0.15.

The market presented a strong demand for the group’s shares on the November 16, 2015, when its public issue of 34 million shares was oversubscribed by 45.66 times.

This transcribes to the highest oversubscription rate for the public category of an initial public offering (IPO) for 2015 to date.

“Today’s listing of KTC, will serve as a concrete platform to expand the company’s potential to the next level. It will open up various avenues of opportunities and support for KTC to continuously work towards executing our expansion plans and architect our future business strategies.” group managing director Lau Koh Sing said.