ListedACE Market· 0284· Shariah-compliant

Glostrext IPO

Industrial Products & Services, Industrial Services. Offered at RM0.19 a share, listed on 15 Aug 2023.

Offer price

RM0.19

Shares offered

122.1m

RM23m at offer

Market cap at listing

RM77m

Offer period

27 Jul 2023 to 2 Aug 2023

Listing date

15 Aug 2023

Principal adviser

M&A Securities Sdn Bhd

Timeline

Offer opens
27 Jul 2023
Offer closes
2 Aug 2023
Balloting
Done
Listed
15 Aug 2023

Oversubscription

173.5×

Public applications for 173.5 times the shares on offer, 18,730 applications.

First day of trading

+242.1%

Opened above the offer price, closed +34.2% on day one.

About Glostrext

Glostrext is a geotechnical instrumentation service provider with 31 years of operating history (since 1992), delivering pile instrumentation, static load test, and structural/ground instrumentation and monitoring services to construction projects in Malaysia and Singapore.

First-day forecast

CISCOM's forecast for Glostrext 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.