You saw or not? I saw it. It was a WITHDRAW AND GIVE" maneuver. Withdraw buy orders and give to buyers at buy price This is a signal banker playing trading with it. It will drop below 1.70, 1.60 by friday. Trading game in grossly overvalued range.
Dairy Producer Farm Fresh Surges in Kuala Lumpur Trading Debut Shares advance as much as 34% in early trade on Tuesday It’s the country’s biggest initial public offering since July ByFilipe Pacheco and Yantoultra Ngui 22 March 2022, 09:05 GMT+8 Malaysian dairy producer Farm Fresh Bhd. jumped in its trading debut in Kuala Lumpur, following the Southeast Asian country’s largest initial public offering since July.
The shares traded as high as 1.81 ringgit, after being sold at 1.35 ringgit each. The company and shareholders raised about 1 billion ringgit ($238 million) in an offering that lured a record 30 cornerstone investors including Abrdn and Franklin Templeton Asset Management (Malaysia).
The firm, which has a unit of sovereign wealth fund Khazanah Nasional Bhd. among its investors, is reviving the IPO market in Kuala Lumpur at a time of slow activity in traditional venues due to rising interest rates and Russia’s invasion of Ukraine. It’s the third company to list in the Bursa Malaysia this year and the largest since CTOS Digital Bhd. more than eight months ago.
The IPO allowed “investors to have exposure in defensive or non-cyclical stocks amid prevailing market volatility with the escalating Russia-Ukraine tensions and rising interest rate atmosphere,” analysts at JF Apex Securities Bhd wrote in a note before the shares started trading.
Outstanding Size Farm Fresh's IPO was the largest in Malaysia in over eight months
Source: Bloomberg
Starting out producing dairy products from 60 cows imported from Australia, Farm Fresh had expanded to a network of more than 800 home dealers and 38 regional stockists as of last year, according to its website. It controls 18% of Malaysia’s ready-to-drink dairy market.
The company is set to get 301 million ringgit from the sale. It plans to use the money to build a manufacturing hub, a diary farm and processing facility in Malaysia as well as boost production in Australia and elsewhere in Southeast Asia.
“We like Farm Fresh for its strong market presence in Malaysia’s dairy industry, local and regional expansion plans. The company has a dividend policy of 25%,” Ronnie Tan, an analyst at Mercury Securities Sdn. Bhd. wrote in a note prior to the debut giving a subscribe recommendation on the shares.
CIMB Investment Bank, Maybank Investment Bank and Credit Suisse are joint global coordinators in the IPO.
Today mission is give everyone susu No matter what price u get, u masuk mean u dapat susu. Cause cannot get susu before listing. 35k application no susu
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Weida2000
246 posts
Posted by Weida2000 > 2022-03-22 09:50 | Report Abuse
1.86 level traded 1.726 mil shares only ....how come can sold 2m shares
hahahahaha
Citadel123
sold another 2mil units at 1.86