UWC shares continue to rise after strong debut

11 Jul 2019 / 20:39 H.

PETALING JAYA: Shares of UWC Bhd continued to climb today, rising as much as 9.29% or 13 sen to an intraday high of RM1.53.

Today, the stock closed its second trading day 2.14% or 3 sen higher, with 87.54 million shares traded, making it the fifth most actively traded stock on the bourse.

The integrated engineering service provider made a strong debut on Wednesday with an opening price of RM1.10, representing a 34% premium to its initial public offering (IPO) price of 82 sen.

The stock closed its first trading day at an intraday high of RM1.40, a 70% premium to its IPO price.

UWC is listed on the Main Market of Bursa Malaysia and is the top performer so far among the new listings this year and third best performer over the past 12 months, in terms of first day trading performance.

Of the 27 new listings on the bourse since July last year, UWC is the third best performer after Radiant Globaltech Bhd and Securemetric Bhd, whose share prices achieved 130.43% and 114% premiums respectively to their IPO prices.

UWC is also the second listing on the Main Market so far this year, after HPMT Holdings Bhd’s listing on June 12.

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