SUM Technology Bhd made a strong trading debut on the ACE Market of Bursa Malaysia on Thursday, opening sharply higher as investor appetite for the counter remained strong following its heavily oversubscribed initial public offering.
At the opening bell, the industrial products and services company’s shares were last done at RM0.445, up 16.5 sen or 58.93% from its IPO price of RM0.28.
The counter opened at RM0.40, touched a high of RM0.445 and a low of RM0.395 in early trade. Volume stood at 678,526 shares, with continued buying interest pushing the stock close to its intraday peak.
At the time of reporting, SUM Technology was trading at RM0.445 with a buy price of RM0.445 and sell price of RM0.450.
The strong debut follows significant investor demand ahead of its listing, with the IPO previously oversubscribed by 110.54 times, reflecting robust interest across both institutional and retail tranches.
The company raised about RM32.8 million through the issuance of 117 million new shares priced at RM0.28 each.
SUM Technology is involved in cleanroom engineering, controlled environment systems and mechanical, electrical and process utilities (MEPF) solutions for mission-critical facilities, particularly in the semiconductor and data centre sectors.
It recently secured a RM20.46 million contract to design and build a semiconductor cleanroom facility in Perak, further strengthening its order book ahead of its market debut.
Research houses have previously highlighted the group’s exposure to Malaysia’s growing semiconductor and data centre investment cycle, alongside expectations of double-digit earnings growth in the coming years.
