KUALA LUMPUR (Feb 24): China Stationery Ltd made a firm debut on Bursa Malaysia on Friday amid a more upbeat outlook for the markets.
At 9.44am, CSL was up six sen to RM1.01. There were 52.85 million shares done.
The FBM KLCI rose 1.76 points to 1,558.42. Turnover was 267.33 million shares valued at RM204.16 million. There were 252 gainers, 163 losers and 220 stocks unchanged.
The Edge Financial Daily said CSL’s debut would mark the return of Chinese companies listing on the local bourse after a long dry spell since January last year.
Analysts said the share price performance of China Stationery may play a role in sustaining the positive sentiment on China-based counters on the local bourse.
However, the stationery manufacturer’s IPO, priced at 95 sen per share, was undersubscribed for the public portion. Only half the public portion of 60 million shares was subscribed by retail investors.
At 9.44am, CSL was up six sen to RM1.01. There were 52.85 million shares done.
The FBM KLCI rose 1.76 points to 1,558.42. Turnover was 267.33 million shares valued at RM204.16 million. There were 252 gainers, 163 losers and 220 stocks unchanged.
The Edge Financial Daily said CSL’s debut would mark the return of Chinese companies listing on the local bourse after a long dry spell since January last year.
Analysts said the share price performance of China Stationery may play a role in sustaining the positive sentiment on China-based counters on the local bourse.
However, the stationery manufacturer’s IPO, priced at 95 sen per share, was undersubscribed for the public portion. Only half the public portion of 60 million shares was subscribed by retail investors.
