RT Pastry Holdings Bhd ended its trading debut on a volatile note on June 29 as the counter closed at 16 sen, down two sen or 11.11% from its IPO price of 18 sen, after a day of heavy trading that saw more than 46.06 million shares change hands.
The bakery group, which opened at 17.5 sen with 8.68 million shares traded at the start, saw shares briefly recover to 17 sen at midday before slipping further in the afternoon session as profit-taking intensified across the counter.
Despite the weak close, the listing was supported by strong investor demand ahead of its market debut, with RT Pastry’s IPO oversubscribed by 59.96 times, reflecting robust appetite for the consumer-focused bakery operator.
The IPO exercise involved the issuance of 91.542 million new shares at 18 sen each.
Executive Director and Chief Executive Officer Lu Chun-Neng previously said the listing marks a key milestone in RT Pastry’s transformation into a vertically integrated food manufacturing business, expanding beyond retail outlets into OEM and wholesale operations.
He highlighted that proceeds from the IPO would be used to expand production capacity, enhance automation and grow its retail footprint beyond its existing core markets, while improving operational efficiency and reducing reliance on manual processes.
The company is also investing in a larger centralised production facility and automation systems to support scale, while maintaining its artisanal bakery positioning as it expands its OEM services to F&B operators, retail chains and consumer brands.
Read the exclusive article in which Lu shared some exclusive insights with BusinessToday in an interview about the company’s post-listing plan here.
