ListedACE Market· 0235· Shariah-compliant

Nestcon IPO

Construction. Offered at RM0.28 a share, listed on 29 Jun 2021.

Offer price

RM0.28

Shares offered

161.0m

RM45m at offer

Market cap at listing

RM180m

Offer period

8 Jun 2021 to 17 Jun 2021

Listing date

29 Jun 2021

Principal adviser

M&A Securities Sdn Bhd

Timeline

Offer opens
8 Jun 2021
Offer closes
17 Jun 2021
Balloting
Done
Listed
29 Jun 2021

Oversubscription

57.1×

Public applications for 57.1 times the shares on offer.

First day of trading

+7.1%

Opened above the offer price, closed +14.3% on day one.

About Nestcon

Nestcon is a Malaysia-based construction group operating two divisions: building construction (high-rise residential and commercial projects in the Klang Valley) and civil engineering & infrastructure (nationwide).

First-day forecast

CISCOM's forecast for Nestcon 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.