Kuala Lumpur, Sept 29: CEKD has finally made its debut on the Ace Market of Bursa Malaysia.
The company opened at 60 sen, which is a 12 sen premium or 25 per cent higher than its initial public offering (IPO) price of 48 sen per share, with the first traded volume recorded at 6,286,100 shares.
“We are extremely pleased with today’s listing debut on the ACE Market and are humbled by the reception to our IPO from the investing public,” Independent Non-Executive Chairman of CEKD Bhd, Datuk Zulkifli bin Adnan said.
“We are a leading provider of die-cutting mould solutions in Malaysia, and we believe this IPO will give the Group more visibility and aid in the expansion of the business.
“This will help us to not only retain our customers in Malaysia but help capitalise on other markets such as Southeast Asia and the Middle East.
“As the only die-cutting mould specialist in Southeast Asia to be certified by Bobst Mex SA, a leading global supplier of machinery and services to the packaging industry from Switzerland, we have plans in the pipeline post-listing to expand our operations and manufacturing services in our existing markets as well as solidify our position in Southeast Asia and the Middle East.
“We believe that there are plenty of opportunities that we can tap into in these markets due to the growth in the E&E, plastic and packaging, automotive as well as textile and leather industries.”
While CEKD distributes to markets in Australia, Vietnam, Thailand, Philippines and the Middle East, Malaysia makes up 85 per cent of the overall revenue in the financial period ended March 31.
The group’s customers are mainly from the printing and packaging, electrical and electronics, automotive, plastic packaging, textile, and leather industries.
Today’s listing follows from the Balloting Ceremony on Sept 21 where CEKD recorded an oversubscription rate of 131.61 from the new shares made available to the Malaysian public.
M&A Securities Holdings Bhd is the Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO exercise.
Welcome to dailystraits.com. Please send all interview requests and press releases to editor@dailystraits.com.
