‘More and more new faces appear, just choose which one is pleasing to the heart.’
Cyber securities company, LGMS Bhd followed in the footsteps of Yew Lee Pacific Group yesterday to make its outstanding first (debut) appearance on the exchange today.
LGMS Bhd, which was traded on Bursa Malaysia's Ace Market at 9am, opened at an initial public offering (IPO) price of 50 sen.
During the morning session, LGMS shares also rose a 20% premium at 62 cents to become the most actively traded counter with 128.49 million shares changing hands.
According to a company statement, they plan to raise RM45.7 million from the IPO, 80% of which will be used for business growth.
It also includes the purchase of new offices, workforce expansion, capital expenditure as well as covering its strategic expenditure to expand into the Singapore, Vietnam and Cambodian markets.
The remaining RM7.5 million will be allocated for working capital and listing payments.
Comment by the Executive Chairman, Fong Choong Fook, with the dynamic environment behind the digital economy, the demand for digital goods and services is also increasing.
This is because cyber threats will continue to grow as progress is made, in turn it will encourage companies to remain competitive and provide the best services.
