Mesdaq debuts, first stock fetches 19% premium

KUALA LUMPUR–Malaysia’s new high-tech stock exchange, the Malaysian Exchange of Securities Dealing and Automated Quotation (Mesdaq), began trading today on its sole counter Supercomal Technologies Bhd (STB).

STB made an impressive debut closing at 3.82 ringgit, a premium of 62 sen over its initial public offering price of 3.20 ringgit per share. It rose to a high of 4.30 ringgit. The company sold 3.05 million new shares, raising 9.76 million ringgit (US$2.6 million).

“We are pleased that the start of trading went well and the Mesdaq Quotation System performed smoothly,” Mesdaq executive chairman Khairil Anuar Abdullah said in statement issued late today.

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Malaysia’s high-tech board to begin trading Friday

KUALA LUMPUR–Malaysia’s latest stock exchange, modelled after the Nasdaq Stock Exchange, will begin trading its first counter Friday.

The Malaysian Exchange of Securities Dealing and Automated Quotation (Mesdaq), will make its debut with just one company, little-known wire and cable-maker Supercomal Technologies Bhd.

Analysts say interest in the exchange is expected to be lukewarm. The say the exchange is likely to attract smaller funds and individuals rather than the major players.
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