PETALING JAYA: Piling and foundation specialist Aneka Jaringan Holdings Bhd made its debut on the ACE Market of Bursa Malaysia Securities Bhd (Bursa Securities) today, closing at 29 sen with a turnover of 123.71 million shares.
Aneka Jaringan’s initial public offering (IPO) price was 33 sen a share, translating to a listing market capitalisation of RM177.57 million. It opened at 35 sen with a volume of 14.44 million shares.
Aneka Jaringan’s IPO attracted strong interest, with the portion for the Malaysian public oversubscribed by 12.68 times.
About RM46.16 million was raised from the IPO of which RM17.3 million will be used to purchase rotary drilling rigs and crawler crane, RM24.26 million to repay borrowings and RM4.6 million to defray listing expenses.
Speaking at the virtual listing ceremony aired today, Aneka Jaringan chairman Datuk Tan Gim Foo said this IPO was the outcome of the efforts and commitment by the company’s team over the years to realise its vision.
“Just as how our expertise in foundation gives our clients a solid start, the IPO gave us the platform to realise our aspirations and accelerate our expansion plans. I have every confidence that our team will scale greater heights as we move further into regional opportunities. This is just the beginning of a new journey for Aneka Jaringan and we look forward to building more successes in years to come.”
Alliance Investment Bank Bhd was the principal adviser, sponsor, sole underwriter and placement agent for Aneka Jaringan’s IPO.
