The counter opens at 31.5 sen, a 26% premium compared to the 25 sen reference price.
Minox International Group Bhd board of directors during the company’s ACE Market debut earlier today.
As at 12.29pm, its share price has continued to rise to 36 sen, a 44% increase from the reference price. Its market capitalisation stood at RM129.6 million.The group raised RM22.5 million from the IPO, with 57.9% of the proceeds to be utilised towards business expansion. Managing director Cheong Chee Son said the group will introduce new vacuum fittings and valves tailored for semiconductor production lines and construct a fourth warehouse in Puchong to cater for higher sales volume.
For the six months ended June 30, 2023, the group achieved a net profit of RM4 million on the back of RM26.1 million revenue. About 92.7% of the group’s revenue was contributed by the sales to the food and beverages industry.
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