ListedACE Market· 0227· Shariah-compliant

Econframe IPO

Industrial Products & Services, Building Materials. Offered at RM0.28 a share, listed on 27 Oct 2020.

Offer price

RM0.28

Shares offered

97.5m

RM27m at offer

Market cap at listing

RM91m

Offer period

5 Oct 2020 to 12 Oct 2020

Listing date

27 Oct 2020

Principal adviser

M&A Securities Sdn Bhd

Timeline

Offer opens
5 Oct 2020
Offer closes
12 Oct 2020
Balloting
Done
Listed
27 Oct 2020

Oversubscription

40.2×

Public applications for 40.2 times the shares on offer.

First day of trading

+23.2%

Opened above the offer price, closed +32.1% on day one.

About Econframe

Econframe is a total door system solution provider based in Klang, Selangor, principally involved in the design and manufacturing of metal door frames, fire resistant door sets, and metal doors, as well as trading of wooden doors and ironmongery under its in-house brands ECONFRAME® and DUROE®.

First-day forecast

CISCOM's forecast for Econframe is available to Pro members.

Every IPO gets a projected first-day range and a probability of opening above the offer price, built from the most similar past listings on Bursa Malaysia. Across 246 IPOs in the walk-forward back-test, the model called the first-day direction right 74% of the time. Educational estimates, not investment advice.

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Facts on this page come from Bursa Malaysia announcements, the prospectus and issuing-house press releases, and can change. CISCOM is an educational service and does not provide investment advice. Past performance does not guarantee future results. Consult a licensed adviser before investing.