Supreme Consolidated Resources Bhd made its debut on the LEAP Market of Bursa Malaysia Securities Berhad.
Trading of Supreme’s shares opened at RM0.60 a share, a premium of 20% over the initial IPO price of RM0.50.
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Supreme Consolidated Resources Bhd made its debut on the LEAP Market of Bursa Malaysia Securities Berhad.
Trading of Supreme’s shares opened at RM0.60 a share, a premium of 20% over the initial IPO price of RM0.50.
The market capitalisation of Supreme based on the initial IPO price is RM60 million.
Supreme Consolidated is a fully integrated fast moving consumer goods (FMCG) based company involved in the import, trading and distribution of frozen, chilled, dairy and dry food products in East Malaysia and is the first Sarawak company to be listed on the LEAP market.
Speaking at the launch, Supreme Non-Independent Executive Vice Chairman Datuk Richard Wee said, “The share price performance on Bursa Malaysia reflected support and confidence of our high net worth investors in our Company’s performance and business model.”
“With our listing today, we look forward to capitalising on growth opportunities in the market to expand our food and beverage business.”
The proceeds raised from the IPO will be used mainly to part-finance the construction of the new warehousing facilities and for working capital purposes.
The Company trade under the stock name of "SUPREME" and stock code of "03018".