CabNet debuts with 15-sen premium

KUALA LUMPUR: CabNet Holdings Bhd made an encouraging debut on the Ace Market of Bursa Malaysia yesterday at 68 sen, a 12-sen premium above its issue price of 56 sen.

The total solutions provider for building management solutions, which had an oversubscription rate of 48.32 times during balloting, saw 2.49 million shares changing hands at the opening bell.

Chairman Datuk Tan Kok Hong, in a statement yesterday, said the company would continue to strengthen its market presence outside of Johor following the listing exercise.

He said the company would also introduce its in house-developed integrated security software, CabNet Integrated Security Solution (CISS), which is compatible with most brands of closed-circuit televisions (CCTVs) and access control system (ACS).

CabNet’s share price rose 15 sen to end at 70 sen yesterday. Bernama