KUALA LUMPUR (Oct 6): Perak Transit Bhd rose as much as 4.5 sen or 30% to 19.5 sen on its first trading day on Bursa Malaysia's ACE Market. At 10:30 a.m., shares of public-transport entity Perak Transit pared gains at 18.5 sen, with some 109 million shares exchanging hands. Perak Transit was listed at an initial public offering (IPO) price of 15 sen a share for a market capitalisation of RM171 million. The IPO of Perak Transit involved the sale of 245 million new shares in the company. Of the 245 million shares, 58 million units were offered to the Malaysian public, while 187 million units were earmarked for private placement to selected investors.

Source: The Edge Markets October 06, 2016 03:22 UTC