Perak Tran­sit de­buts at 40% pre­mium

The Sun (Malaysia) - - SPEAK UP -

KUALA LUMPUR: Perak Tran­sit Bhd de­buted at a 40% pre­mium on the ACE Mar­ket of Bursa Malaysia yes­ter­day, from its ref­er­ence price of 15 sen.

It was the most ac­tive stock yes­ter­day, clos­ing at 21 sen, with 241.48 mil­lion shares done.

The Perak Tran­sit Group’s ini­tial public of­fer­ing (IPO) saw 58 mil­lion new shares ap­plied by the Malaysian public by way of bal­lot­ing, reg­is­ter­ing an over­all over­sub­scrip­tion rate of 19.83 times.

The group raised a to­tal gross pro­ceeds of RM36.75 mil­lion based on its public is­sue of 245 mil­lion new shares.

Its man­ag­ing di­rec­tor Datuk Cheong Kong Fitt said go­ing for­ward, it will re­main fo­cused to de­velop in­te­grated public trans­porta­tion ter­mi­nals in other parts of Perak as well as other re­gions in Malaysia, start­ing with the con­struc­tion of Ter­mi­nal Kam­par in the sec­ond half of 2016.

“We also plan to de­velop Ter­mi­nal AmanJaya into a com­mer­cial and lifestyle hub, in ad­di­tion to adopt­ing new A&P (ad­ver­tis­ing & pro­mo­tions) plat­forms and in­creas­ing A&P spa­ces in Ter­mi­nal AmanJaya to fur­ther drive our A&P rental rev­enue. Fur­ther­more, we in­tend to en­hance the pro­vi­sion of our bus ser­vices. We have op­er­ated myBAS ser­vices in Ipoh un­der the Stage Bus Ser­vice Trans­for­ma­tion (SBST) Pro­gramme,” he said in a state­ment.

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