KUALA LUMPUR (March 1): Shares of China Stationery Ltd, which has rallied since its listing on Feb 24, retreated as investors took profit.
At 9.37am, it was down 13 sen to RM1.25, the steepest decline since its listing. However, the share price is up 30 sen from its offer price of 95 sen.
The FBM KLCI rose 4.57 points to 1,574.22. Turnover was 261.06 million shares valued at RM205 million. There were 170 gainers, 222 losers and 220 stocks unchanged.
The Edge Financial Daily had reported that 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 9.37am, it was down 13 sen to RM1.25, the steepest decline since its listing. However, the share price is up 30 sen from its offer price of 95 sen.
The FBM KLCI rose 4.57 points to 1,574.22. Turnover was 261.06 million shares valued at RM205 million. There were 170 gainers, 222 losers and 220 stocks unchanged.
The Edge Financial Daily had reported that 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.
