Newly listed Sum Technology Bhd surged 87.5% on its ACE Market debut, closing at 52.5 sen on June 18, a premium of 24.5 sen over its IPO price of 28 sen, as strong investor demand continued to fuel buying interest throughout the trading day.
The cleanroom engineering and mission-critical facilities specialist ended the session with 193.7 million shares traded, making it one of the market’s most actively traded counters.
The stock opened strongly at 40 sen, up 42.9% from its IPO price, and traded between a low of 39.5 sen and a high of 52.5 sen throughout the trading session before closing at its intraday peak.
At midday, the counter was already trading at 49.5 sen, representing a gain of 76.8%.
The stellar debut follows overwhelming demand for its IPO, which was oversubscribed by 110.54 times, underscoring strong investor appetite for the company’s growth prospects in the semiconductor and data centre sectors.
Sum Technology raised RM32.8 million through the issuance of 117 million new shares, with proceeds earmarked for expanding engineering capabilities, strengthening its regional footprint and increasing participation in larger-value projects.
Executive Director and Chief Executive Officer Lee Thiam Hing said the successful listing marked an important milestone for the company.
“The IPO proceeds will strengthen our financial position and support our next phase of growth, including expanding our engineering capabilities, strengthening our regional presence and increasing our participation in larger-value projects,” he said.
Sum Technology provides cleanroom engineering, controlled environment systems and mechanical, electrical, process and utility solutions for mission-critical facilities, with a strong focus on semiconductor manufacturing plants and data centres.
