Stratus Global more than doubles on Main Market listing day
Stratus Global Holdings, a factory automation firm, saw its share price more than double on its first day of trading on the Bursa Malaysia Main Market. The company raised RM285 million to fund R&D and production expansion.
Why it matters
The successful IPO indicates strong investor appetite for semiconductor-related technology despite broader market cooling.
BURSA SGX Home New Listing Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (July 21): Stratus Global Holdings Bhd (KL: STRATUS ) more than doubled in its maiden trade on the Main Market as investors rushed for a piece of the factory automation firm.
The Penang-based company opened at RM1.96 on Tuesday versus its initial public offering (IPO) price of 80 sen per share. Stratus Global ended the day at new high of RM2.11 after more than 137 million shares exchanged hands.
Market capitalisation stood at RM2.64 billion based on the last price.
The stellar debut defies cooling sentiment for global technology stocks, and comes hot on the heels of Stratus Global’s marquee IPO, which saw its shares oversubscribed by 129 times by retail investors.
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