Matrix Concept opens 50 sen higher at RM2.70

KUALA LUMPUR: Matrix Concepts Holdings Bhd
opened at RM2.70, which was 50 sen above its offer price of RM2.20 when
it made its debut on the Main Market of Bursa Malaysia Securities Bhd
on Tuesday.
Within the first two minutes of trade, there were 5.12 million shares done at prices ranging from to RM2.68 to RM2.73.
The
FBM KLCI was down 1.19 points to 1,765.94. Turnover was 38.71 million
shares done valued at RM34.22mil. There were 143 gainers, 54 losers and
93 counters unchanged.
The Negeri Sembilan-based property
developer raised RM137.5mil from the initial public offering (IPO) of
62.5 million new shares at RM2.20 a piece.
The public portion of 10 million shares for retail investors was 11.3 times oversubscribed.
In the first quarter ended March 31, it posted a net profit of RM45.98mil from RM155.59mil revenue.
It
posted a net profit of RM103.5mil for the financial year ended Dec 31,
2012. As of March 31, the company has RM38.51mil cash and cash
equivalents.