From left: Autocount Dotcom Bhd Software development director Lim Kim Seng, CFO Tan Wee Kong, director Chin Chee Seng, chairman Choo Chin Peng, MD Choo Yan Tiee, director Liew Soung Yu and sales and marketing director Ng Boon Thye (Photo by Patrick Goh/The Edge)

KUALA LUMPUR (May 9): Autocount Dotcom Bhd made its debut on the ACE Market on Tuesday (May 9).

The company opened at RM1.09 against its IPO price of 33 sen a share — a premium of 76 sen or 230.3% over its 33 sen reference price.

The counter closed at 75 sen on its maiden trading day — a 127.27% or 42 sen jump over its IPO price — with a market capitalisation of RM 412.88 million.

It was the top most active counter on Bursa Malaysia with 277.31 million shares traded upon closing.

The company has yet to announce a dividend policy, but its managing director Choo Yan Tiee has said the initial focus would be on its expansion. Cash would also be reserved for advertising and promotional costs.

A developer and distributor of financial management software that includes accounting, point-of-sale (POS) and payroll, Autocount said it has sold approximately 70,000 software licenses for use of approximately 210,000 businesses and companies in Malaysia and Singapore.