CEKD Bhd debuts on ACE Market at 12 sen premium, 25% above IPO price

by TMR / graphic by TMR

CEKD Bhd made debut on the ACE Market of Bursa Malaysia Securities Bhd at 60 sen at a 12 sen premium, an increase of 25% from its initial public offering (IPO) price of 48 sen.

At the opening bell, the counter traded a volume of 6.29 million shares.

Independent Non-Executive Chairman of CEKD Datuk Zulkifli bin Adnan said this IPO will give the group more visibility and aid in the expansion of the business.

“This will help us to not only retain our customers in Malaysia but help capitalise on other markets such as Southeast Asia and the Middle East,” he said in a statement today.

CEKD distributes to markets in Australia, Vietnam, Thailand, Philippines and the Middle East, Malaysia makes up 85.0% of the overall revenue in the financial period ended 31 March 2021.

The Group’s customers are mainly from the printing and packaging, electrical and electronics, automotive, plastic packaging, textile, and leather industries.