SLGC Bhd opened at 28 sen on its ACE Market debut today, matching its last traded price on the previous trading day (LACP) and its initial public offering (IPO) price.
The building construction services provider had 308,622 shares traded in the opening session, based on Bursa Malaysia data.
SLGC’s IPO involved 105 million new shares priced at 28 sen each, raising RM29.4 million. The company said its public issue was oversubscribed 3.06 times, with 4,647 applications received for 113.71 million new shares.
The company had an unbilled order book of about RM1 billion as at Aug 12, providing earnings visibility through the financial year ending Dec 31, 2030.
SLGC has an enlarged issued share capital of 560 million shares, giving it an indicative market capitalisation of RM156.8 million based on its IPO price.
