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NewsNew Listing EA Technique falls 14% amid broad market weakness
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New Listing EA Technique falls 14% amid broad market weakness
by Cals Fri 12 Dec 2014, 01:12
New Listing
EA Technique falls 14% amid broad market weakness
By Chester Tay / theedgemarkets.com | December 11, 2014 : 11:32 AM MYT
KUALA LUMPUR (Dec 11): EA Technique (M) Bhd fell as much as 14% during its debut on the Main Board of Bursa Malaysia ([You must be registered and logged in to see this image.] Financial Dashboard).
Shares of shipping firm EA, which offers oil and gas support services, faced pressure amid weaker broader market sentiment due to lower crude oil prices.
EA fell as much as nine sen to 56 sen from its IPO price of 65 sen. The stock later reduced losses.
EA's share price declined to 56.5 sen at 11.03am with some 35 million shares done.
The counter saw some 35 million shares changed hands to become the most active stock on the exchange.
For comparison, the FBM KLCI fell 11.59 points or 0.7%
EA Technique’s IPO involved a public issue of 114 million new shares at 65 sen each to raise RM74.1 million for the company.
[size=14]The IPO included an offer for sale of 15 million existing shares shares at a similar price. [/size]
EA Technique falls 14% amid broad market weakness
By Chester Tay / theedgemarkets.com | December 11, 2014 : 11:32 AM MYT
KUALA LUMPUR (Dec 11): EA Technique (M) Bhd fell as much as 14% during its debut on the Main Board of Bursa Malaysia ([You must be registered and logged in to see this image.] Financial Dashboard).
Shares of shipping firm EA, which offers oil and gas support services, faced pressure amid weaker broader market sentiment due to lower crude oil prices.
EA fell as much as nine sen to 56 sen from its IPO price of 65 sen. The stock later reduced losses.
EA's share price declined to 56.5 sen at 11.03am with some 35 million shares done.
The counter saw some 35 million shares changed hands to become the most active stock on the exchange.
For comparison, the FBM KLCI fell 11.59 points or 0.7%
EA Technique’s IPO involved a public issue of 114 million new shares at 65 sen each to raise RM74.1 million for the company.
[size=14]The IPO included an offer for sale of 15 million existing shares shares at a similar price. [/size]
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