ListedACE Market· 0307· Shariah-compliant

Kawan Renergy IPO

Industrial Products & Services, Industrial Materials, Components & Equipment. Offered at RM0.30 a share, listed on 29 May 2024.

Offer price

RM0.30

Shares offered

144.5m

RM43m at offer

Market cap at listing

RM165m

Offer period

29 Apr 2024 to 14 May 2024

Listing date

29 May 2024

Principal adviser

M & A Securities Sdn Bhd

Timeline

Offer opens
29 Apr 2024
Offer closes
14 May 2024
Balloting
Done
Listed
29 May 2024

Oversubscription

95.0×

Public applications for 95.0 times the shares on offer, 23,636 applications.

First day of trading

+50%

Opened above the offer price, closed +55% on day one.

About Kawan Renergy

Kawan Renergy is an engineering solutions provider principally involved in the design, fabrication, installation and/or commissioning of industrial process equipment, process plants, and renewable energy and co-generation plants.

First-day forecast

CISCOM's forecast for Kawan Renergy 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.