AMS Advanced Material Bhd closed its ACE Market debut at 30.5 sen on April 23, staging a modest recovery from a weak start despite heavy selling pressure in early trade.
The stock slipped below its IPO price of 29 sen shortly after the opening bell, trading at 28.5 sen and hitting an intraday low of 28 sen as selling outweighed buying interest. It later rebounded to 29 sen by midday before edging higher into the close.
Trading activity was brisk, with more than 105.8 million shares changing hands by the end of the session compared to around 87.1 million shares traded at midday.
Despite the subdued debut, the company enters the market with growth prospects tied to a recovery in the semiconductor sector. The company raised RM32.8 million from its IPO, with proceeds earmarked mainly for capacity expansion and product development.
AMS Advanced was listed on the ACE Market of Bursa Malaysia via the issuance of 113 million new shares at 29 sen each and an offer for sale of 47 million existing shares to selected investors.
The muted first-day performance reflects cautious investor sentiment, even as the company positions itself to ride on improving demand in the semiconductor space.
