Datasonic opens 15% higher at RM2.30 (5216)

by **hlk** Mon 03 Sep 2012, 11:28

KUALA LUMPUR: Datasonic Group Bhd
opened at RM2.30, which was a premium of 15% or 30 sen above its offer
price of RM2, when made its debut on the Main Market of Bursa Malaysia
on Monday.
There were 907,500 shares traded.
At 9.01am, it was trading at RM2.30. There were 1.99 million shares done.
The
FBM KLCI was up 3.85 points ti 1,649.96. There were 34.61 million
shares done valued at RM32.90mil. There were 96 gainers, 47 losers and
117 counters unchanged.
RHB Research had a fair value of RM2.13 for the shares.
Its listing exercise involved the public issue of 20.5 million new shares and offer for sale of 7.9 million shares.
Its
core activities are ICT solutions including personalisation of smart
cards (ID or chip-based cards), customisation of software and hardware
solutions, project management, consultancy, R&D and technical
consultancy services.
RHB Research said Datasonic plans to
expand its market share and position by acquiring new projects and
customers as it penetrates into new industries such as the healthcare
and transportation sectors.
The company plans to set up a new
headquarters as a regional personalisation solution (RPS) which would
allow its card customisation card capacity to increase by 3,500
cards/day to 13,650 cards/day. Also, the company plans to establish a
smart card manufacturing plant to produce 750,000 cards/month.
The research house said Datasonic plans to enhance and strengthen its technical competencies in the provision of ICT solutions.