Recently, the performance of initial public offerings (IPOs) has been less encouraging. This is primarily due to the disappointing first-day listing prices.
wift Energy Technology Berhad recently launched its initial public offering (IPO) on the ACE Market of Bursa Malaysia. The IPO has been notably successful, with shares oversubscribed by 58.09 times
This high level of interest indicates strong investor confidence in the company's prospects.
Swift Energy Technology is a provider of industrial automation and power systems, focusing on process control, explosion-proof solar PV systems, and power distribution systems. The company serves various industries, including oil and gas, grain products, edible oils, and food manufacturing.
The IPO was priced at 28 sen per share, aiming to raise RM70.06 million
. The funds will be used for expanding their fabrication facility, setting up a dedicated R&D center, business expansion, and working capital.
Swift Energy Technology Berhad (RM0.28)
- TP RM0.53 by Mplus 🔺89.29%
- TP RM0.32 by TA 🔺14.3%
- TP RM0.36 by Public Bank 🔺28.6%
- TP RM0.41 by RHB 🔺47.0%
Tricor Investor & Issuing House
https://lchipo.blogspot.com/2024/12/swift-energy-technology-berhad.html